Good News From SBA!
Effective March 18, 2024, the SBA is making a permanent change to the Alternative (Business) Size Standard for the 504 and 7(a) loan programs and updating it for inflation.
- Tangible Net Worth not more than $20 million (up from $15 million), and
- Average Net Income after Federal Income Taxes for the two full fiscal years before the SBA application date not more than $6.5 million (up from $5 million)
This will allow for larger businesses to qualify for SBA 504 and 7(a) loans.
Please contact your MCDC loan officer with questions.
March Interest Rates?… see the graphic at the bottom in the photo-slider!
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With seven offices throughout Michigan, MCDC’s experienced team will work with you through every step of your SBA Loan. MCDC is a non-profit corporation certified by the U.S. Small Business Administration to provide SBA 504 Loan Financing and 7(a) Lender Services. For four decades, MCDC has been a leader in SBA financing in Michigan, participating in projects impacting more than 64,000+ jobs and more than $3 Billion of economic investment. For more information, please feel free to call us at 833-4SBA-LOAN or 833-GET-7ALOANS or visit us at www.michigancdc.org
Michigan Certified Development Corporation
Phone: (517) 886-6612 | Fax: (517) 886-6619
