Sec. 10. Maximum loan amount for 504 loans
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The purpose of this section is to make refinancing of fixed assets more flexible for small business concerns seeking immediate financing and relief from the COVID–19 crisis. During the period beginning on the date of enactment of this section and ending on September 30, 2021, with respect to each project or loan guaranteed by the Administrator pursuant to title V of the Small Business Investment Act of 1958 ( 15 U.S.C. 695 et seq.) for which an application is approved or pending approval on or after the date of enactment of this section, the maximum loan amount shall be $10,000,000.
Effective on October 1, 2021, section 502(2)(A)(iii) of the Small Business Investment Act of 1958 ( 15 U.S.C. 696(2)(A)(iii) ) is amended by striking $5,500,000 and inserting $10,000,000 .
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