Industry Updates

President Obama signs H.R. 5297 into Law –
September 27, 2010

A number of substantial benefits for America’s small businesses were incorporated into H.R. 5297 – the Small Business Jobs and Credit Act of 2010 that became law on September 27, 2010. Included in the legislation are major enhancements to the SBA 504 loan program that allow many more small business owners across the country to receive SBA 504 loans. The net worth for companies to be eligible for an SBA 504 loan was increased, the maximum 504 loan size was raised and temporary refinancing of existing commercial debt under 504 was also approved.