The STRONG Act increases the maximum loan amounts available through two Small Business Administration lending programs to help small businesses access larger amounts of capital. Specifically, the bill doubles the cap on 7(a) loans from $3.75 million to $7.5 million (with a gross loan limit rising from $5 million to $10 million), and increases development company loan maximums from $5 million to $10 million. These changes directly affect small business owners seeking financing for operations, expansion, or equipment purchases through SBA-guaranteed loans. The bill contains no explicit funding allocations or implementation timelines in the text provided, as it simply amends existing loan limits rather than creating new programs or appropriating funds. By raising these caps, the legislation aims to help small businesses access the capital needed to grow and compete more effectively in the broader economy.
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