Recently, legislation affecting the U.S. Small Business Administration 504 program has been proposed and small business lenders throughout Indiana have declared their support for the pending changes.
Traditionally used to allow companies to fund the purchase of real estate, buildings and equipment, 504 loans have been integral in empowering the small business community to create jobs and spur innovation. Under the revised plan, the ceiling for loans will increase from $2 to $5 million and loans for small manufacturers would increase from $4 million to $5.5 million.
This fiscal year, 1,035 SBA loans were made in Indiana, totaling $266.8 million, a significant drop compared with 1,460 loans totaling $307 million the year before. These proposed changes in legislation have Indiana lenders and small businesses looking forward to the coming year when lending should increase.
More SBA loans this year will provide Indiana’s small business community with the critical resources they need to create jobs and invest in the economic future of the state.
Here at Milestone Advisors, we have a history of successfully working with SBA’s 504, 7a, and other programs on behalf of our clients. Our experience providing advice for clients concerning corporate finance, accounting help or buying a business has equipped us to help small businesses capitalize on these enhancements. With these changes, we are looking forward to helping more small businesses assess financial projections, determine the right capital structure and assist in obtaining the capital to operate and grow their business.
Traditionally used to allow companies to fund the purchase of real estate, buildings and equipment, 504 loans have been integral in empowering the small business community to create jobs and spur innovation. Under the revised plan, the ceiling for loans will increase from $2 to $5 million and loans for small manufacturers would increase from $4 million to $5.5 million.
This fiscal year, 1,035 SBA loans were made in Indiana, totaling $266.8 million, a significant drop compared with 1,460 loans totaling $307 million the year before. These proposed changes in legislation have Indiana lenders and small businesses looking forward to the coming year when lending should increase.
More SBA loans this year will provide Indiana’s small business community with the critical resources they need to create jobs and invest in the economic future of the state.
Here at Milestone Advisors, we have a history of successfully working with SBA’s 504, 7a, and other programs on behalf of our clients. Our experience providing advice for clients concerning corporate finance, accounting help or buying a business has equipped us to help small businesses capitalize on these enhancements. With these changes, we are looking forward to helping more small businesses assess financial projections, determine the right capital structure and assist in obtaining the capital to operate and grow their business.
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