504 and 7(a) Loan Program Updates

Friday, March 21, 2014 / Published in Featured News, SBA Notices
504 and 7(a) Loan Program Updates

504 and 7(a) Loan Programs Updates

AGENCY: U.S. Small Business Administration

ACTION: Final Rule

SUMMARY: This rule finalizes the proposed rule that the U.S. Small Business Administration ("SBA") issued to improve access to its two flagship business lending programs: the 504 Loan Program and the 7(a) Loan Program. This rule will enhance job creation through increasing eligibility for loans under SBA’s business loan programs and by modifying certain program participant requirements applicable to the 504 Loan Program. In addition, SBA is revising Certified Development Company (CDC) operations requirements to clarify certain existing regulations. SBA has decided to further study the issue of how to redefine affiliation for the business loan programs and is not including any changes to the affiliation standards in this final rule.

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