So I somehow landed on diamondfs.com and they mentioned this. What do you all think? haha, I am just wondering the implications it would have for searchers, PE firms etc. Also whether most searchers could afford $5mil+ and have the risk appetite to go that big. It would certainly change the dynamic for many buyers!
"Here is the action item we need everyone to help with
$5 Million Doesn’t Buy what it Used To!
Petition Increase 7(a) SBA Cap to $10 Million! (ipetitions.com)
Please help us gain the support of all brokers, lenders, service providers, buyers and sellers everywhere.
Together we can make this happen."
"Five million dollars does not buy what it did in 2010, which was when the SBA last increased the maximum 7a loan amount from $2 million to the still current $5 million cap. Based solely off typical cost of living increases, assuming 3% per year, $5MM buys approximately 42% less than it did in 2010."
https://www.ipetitions.com/petition/5-million-sba-cap-doesnt-buy-what-it-used-to
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