SBA slashes disaster-loan limit from $2 million to $150,000, shuts out nearly all new applicants

Marci RomneyBlog

An emergency disaster lending program for small businesses has been so overwhelmed by demand that it has significantly limited the size of loans it issues, while blocking nearly all new applications from small businesses, according to people familiar with the situation. After initially telling businesses that individual disaster loans could be as high as $2 million, SBA has now imposed … Read More