SMALL BUSINESS JOBS ACT (PART IV OF IV)
The Small Business Jobs Act will permanently raise the maximum size for the SBA’s two largest loan programs, increasing the maximum 7(a) and 504 loans from $2 million to $5 million, and the maximum 504 manufacturing related loan from $4 million to $5.5 million. In addition, it will temporarily increase the maximum loan size for SBA Express loans from $350,000 to $1 million, providing greater access to working capital loans that small businesses use to purchase new inventory and take on their next order. The bill would establish a new $30 billion Small Business Lending Fund by providing capital to small banks with incentives to increase small business lending. In addition, the bill will support at least $15 billion in small business lending through a new State Small Business Credit Initiative.