Statement from Administrator Mills on Urging Continued Support for Small Businesses’ Recovery Loan Programs
… original $375 million provided under the ARRA for these loans was exhausted in November. Since then, additional funds … to 90 percent and to reduce borrower fees on most 7(a) and 504 loans. The funds for these programs were exhausted on … to support the programs through May 31. SBA’s 7(a) and 504 ARRA Transition Plan: SBA has transitioned 7(a) and 504 …