AAHOA supports the amending of the  Small Business Act  by increasing the maximum gross loan amount for section 7(a) and 504 loans. We are  seeking to raise the limit from $5 million to $10 million, providing more significant financial support to small businesses. The bill also includes a 75% guaranteed rate on loans of up to $10 million, providing a guarantee from the SBA and making the program more attractive for lenders. There are two versions of this legislation   in the House and in the Senate.

The $5 million cap was set in 2010 – since then, the value of hotel properties has increased significantly, along with the costs of doing business and purchasing properties. AAHOA has been a national leader on this issue for some time – doubling the loan limit would be a substantial win for hoteliers.

Write your U.S. Legislators to ask them to support of raising the limit of SBA loans   & support the growth of our industry.