New 5 million SBA LOC

by a searcher

4 months ago

Anyone have any insight on this? Can it be used towards acquisitions?

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2 comments

professional from University of Michigan - Ann Arbor

Always I always defer to ^Searchfunder member‌ on these matters, my understanding is that the SBA will be piloting this program in the upcoming months. As far as I can tell, it's intended to help small business owners with working capital.

4 months ago | like reply | 0 likes

lender from Eastern Illinois University

I have seen the news on this. It is not clear where this is at in the approval process. It is likely something that would need to be approved by Congress if it is a new lending program, which who knows if that will happen with the current disarray in Washington. But I would suspect any sort of line of credit would be used for working capital and not for business acquisition finance.

4 months ago | like reply | 1 like

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