Groups seek higher SBA authorization limits

06/13/2011 | American City Business Journals

Lenders and businesses are urging lawmakers to increase the authorization for the Small Business Administration's 7(a) loan program to $19 billion from the current $17.5 billion and to boost individual loan limits before Congress breaks for its August recess. Franchisees "would reach the old loan limits by the time they sought to build the second or third store," said William G. Hall, operator of five Dairy Queen franchises. "Lower loan limits were restricting the true job creation potential of our economy."

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