Businesses Can Combine 7(a) and 504 Loans for $10 Million in SBA-Backed Financing

Businesses Can Combine 7(a) and 504 Loans for $10 Million in SBA-Backed Financing

The Small Business Administration (SBA) has announced a policy, effective since July 4, that allows businesses to combine 7(a) and 504 loans to secure up to $10 million in funding. The 7(a) loan program provides financial assistance of up to $5 million to help small businesses acquire real estate, finance equipment purchases, access working capital, and expand operations. The 504 loan program provides long-term, fixed-rate financing to acquire m…