CONGRESSWOMAN SIMON INTRODUCES BILL TO IMPROVE SMALL BUSINESS LOAN FLEXIBILITY, SUPPORT EAST BAY BUSINESSES AND ENTREPRENEURS

Washington, Sept. 18 -- Congresswoman Lateefah Simon issued the following press release:

WASHINGTON, D.C. - This week, Congresswoman Lateefah Simon (CA-12) and Congressman Mark Alford (MO-4) introduced the 504 Program Level Flexibility Act, a bill that would allow the Small Business Administration (SBA) to increase the 504 loan program's annual lending limit by up to 15 percent once per fiscal year. The SBA's 504 loan program grants long-term, fixed-rate loans of up to $5.5 million to support investments in assets such as buildings, land, machinery, and equipment. This program is a critical tool for helping entrepreneurs start, grow, and invest in their businesses by making major fixed-asset investments more affordable. In July 2021, the ...