The bill increases the maximum loan amounts for certain small business loans.
The Supporting Trade and Rebuilding Opportunity for National Growth Act, or STRONG Act, amends the Small Business Act and the Small Business Investment Act of 1958. It raises the maximum loan amount for 7(a) loans from $3.75 million to $7.5 million, and for development company loans from $5 million to $10 million. This change aims to provide more financial support to small businesses.
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