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President Obama Signs SBA 7(a) Loan Authorization Increase to $23.5 Billion

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July 28, 2015

By Bob Coleman
Editor, Coleman Report

obamastateoftheunionStatement by the White House Press Secretary on H.R. 2499

On Tuesday, July 28, 2015, the President signed into law:

H.R. 2499, the “Veterans Entrepreneurship Act of 2015,” which prohibits the Small Business Administration (SBA) from collecting a guarantee fee in connection with an express loan made under its 7(a) Loan Program to a veteran or spouse of a veteran; and increases lending authority for SBA’s 7(a) Loan Program for FY 2015 from $18.75 billion to $23.5 billion.

Source: The White House Press Office

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