New 5 million SBA LOC

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by a searcher
in New York, NY, USA

2yrs ago

New 5 million SBA LOC

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

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reply by a lender 2yrs ago
from Eastern Illinois University in 900 E Diehl Rd, Naperville, IL 60563, USA

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.

reply by a professional 2yrs ago
from University of Michigan in Detroit, MI, USA

Always I always defer to ^redacted‌ 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.