IBBA Supports Petition to Increase 7(a) SBA Cap to $10 Million

April 01, 2024

by an intermediary from University of Texas at Arlington in Fort Worth, TX, USA

I just received the following email:

The IBBA Board of Governors unanimously supports the petition in circulation encouraging the SBA to increase the current 7(a) loan cap. The petition's goal is to draw the SBA's attention to this issue which, if successful, would eventually result in the drafting of policy/program parameters that then would be further evaluated by the association.

To sign the petition - https://www.ipetitions.com/petition/5-million-sba-cap-doesnt-buy-what-it-used-to

Reply by a lender
from Eastern Illinois University in 900 E Diehl Rd, Naperville, IL 60563, USA

The request to raise the cap has been on the table for a number of years. It really needs to be done. There is a huge gap in financing available for business acquisitions between $5 million and $20 million. Not sure if the SBA will agree to the increase, as Congress will likely have significant input, but I keep hoping it will sooner than later.

Reply by an intermediary
from Clemson University in Raleigh, NC, USA

^redacted‌ Thanks for posting the petition link. This would be very beneficial for structuring deals up to around $13 million. Currently, we are hamstrung at around the $7 million range.

+2 more replies.

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