The SBA doubled the maximum loan size for 504 and 507 programs from $5 million to $10 million. Businesses that generate $5 million-plus in revenue no longer need multiple loans to fund $10-12 million projects. They can now finance bigger properties and expansion with a single loan.
A lot of people don't know, but something amazing just happened the other day in SBA. They went to 10 million.
Really? Okay. So explain why that's a big deal.
Currently SBA 507, 504As typically stopped and capped small businesses at $5 million. So if you're, if your business was generating $5 million of revenue, you get $5 million of SBA. Now, and that cuts you off because like our subject take company, small business, right? How much is it? $10 million to $12 million. So how the hell am I going to go get— I got to go get 2.25 SVAs. It's like ridiculous just to get that small business, right? They upped it to $10 million.
Right.
Amazing part about the SBA going to $10 million now is that you can buy stuff like what we're doing here and get a bigger property going. That door's open. That's what it is. I'm like, why does it sound like I'm in a freaking video game?
Somebody left it open again.
