On April 11th, 2023, the Small Business Administration (SBA) released their final rule, which includes eligibility and procedural changes that make SBA 504 financing even more obtainable. The SBA aims to make the SBA 504 loan available to more small businesses by relaxing eligibility criteria, reducing required documentation and implementing an updated credit policy. They anticipate the changes to go into effect, May 12, 2023. Changes are subject to SBA’s release of guidance and procedural notices. Highlights of changes: No more Franchise Directory Simplified Affiliation Rules Affiliation is now generally…
Anticipated Changes to the SBA Rulebook
