The SBA issued a proposal to modify two of the methods the organization uses to qualify which businesses classify as small businesses for government contracts and SBA loan and investment programs.
Yesterday, the Senate passed legislation to enhance SBA oversight of the 7(a) Loan Program, and makes critical reforms to ensure its long-term success.
The SBA’s 7(a) loan program is facing a shutdown unless Congress acts before the August recess to increase the 7(a) $18.75 billion limit which it will reach in a matter of weeks.
