WASHINGTON – As the Small Business Administration enters a new era with a new administrator, credit unions continue to join the agency's flagship 7(a) loan program. As of May, 308 credit unions are 7(a) lenders, according to SBA data. The loan program has a maximum loan amount of $2 million dollars while SBA's maximum exposure is $1.5 million. Maximum loan maturities are 25 years for real estate and equipment and generally seven years for working capital. For credit unions, the average SBA loan is now $94,297.19, the agency reported.
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