The Small Business Administration said Wednesday that it will indefinitely limit the amount of 7(a) program loans to $80 million per week because of rapidly diminishing funds.
The agency said the move, effective in 15 business days, will give
This is the second time this month SBA has clamped down on 7(a) lending
On May 5, the SBA halved the cap on 7(a) loans to $500,000, reducing its
However, the cap backfired when lenders pushed through $1 billion in