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SBA offers new loans to small businesses


The U.S. Small Business Administration (SBA) yesterday announced two new loan initiatives – the Small Loan Advantage and Community Advantage.

The loans are aimed at increasing the number of lower-dollar SBA 7(a) loans going to small businesses and entrepreneurs in traditionally underserved communities.

The new initiatives will offer a streamlined application process for SBA-guaranteed 7(a) loans of up to $250,000.

The new loan programs will be implemented by March 15, according to a press release.

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