The U.S. Small Business Administration acknowledges the important role that AAHOA’s Members serve in helping to make SBA’s 7(a) loan program a success.

SBA has very recently implemented a number of changes to the 7(a) loan program, some of which took effect on May 11-12, and some that will take effect on August 1, 2023. There is a great demand for training on the new changes. To that end, SBA has posted a new Training on Demand page, hosting single-topic recorded trainings on the new rules and procedures. The Training on Demand page offers free public access to training led by SBA subject matter experts, available around the clock. Access it here.

AAHOA Members have long been advocating for an increase of the current maximum 7(a) loan amount. Most recently, AAHOA Treasurer Kamalesh (KP) Patel spoke with Congressional staff on Capitol Hill about the need to increase the limit on the SBA’s 7(a) loan program from its current cap of $5 million. This maximum amount is set by statute in the Small Business Act. It will require Congressional action to change that cap, or to change the cap on the maximum outstanding guaranteed loan amount to any one borrower and its affiliates, which is set at $3.75 million.

The AAHOA Advocacy team will continue to update members on any new information we receive regarding changes to the SBA 7(a) loan program.

In the meantime, check out AAHOA’s Advocacy News and Broadcast for the latest news impacting America’s hotel owners.