Increase 7(a) SBA Cap to $10 Million!
We are proposing an SBA maximum cap increase from $5 million to $10 million and need your support to make it happen.
Five million dollars does not buy what it did in 2010, which was when the SBA last increased the maximum 7a loan amount from $2 million to the still current $5 million cap. Based solely off typical cost of living increases, assuming 3% per year, $5MM buys approximately 42% less than it did in 2010.
Have you been to the grocery store lately? Bought fuel for your car or financed a home or vehicle recently? Everything from clothes to online subscriptions seems to have increased double digits in just the last few years. Everything that is, except for the SBA maximum loan amount available for business acquisitions.
Recognizing that many of today's sellers were included in the baby boomer generation and have been building their businesses for multiple decades. These sellers are now ready to retire, although many of their companies can be valued well over $5 million and current SBA limits prohibit a complete exit.
Here's how you can help make this change happen. Please sign this petition and share with every associate broker, lender and broker support services provider throughout the country and let's stand strong by building support together and be sure we're heard in D.C.
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