The 504 Program Level Flexibility Act would allow the Small Business Administration to increase loan guarantees to state and local development companies by up to 15 percent above current legal limits if demand exceeds available funding in a given fiscal year. The bill applies to fiscal year 2025 and all subsequent years, affecting small businesses seeking loans through the SBA's 504 loan program, which helps companies finance equipment and real estate purchases. Before exceeding the spending cap, the SBA administrator must notify Congress at least 30 days in advance, and this authority can be used only once per fiscal year. The measure does not require new appropriations but rather gives the SBA flexibility to meet loan demand within a higher ceiling when needed.
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