--- title: SBA Increases SBA 7(a) Max Small Loan Amount to $500,000 description: The SBA recently increased the maximum loan amount for 7(a) small business loans from $350,000 to $500,000. Learn more about this change and how it may affect your business. image: https://smartbizbank.com/hubfs/Imported_Blog_Media/sba-loan-amount-increase-2-1.jpg --- - [Share](https://smartbizbank.com/blog/sba-increases-max-small-loan-amount-to-500000#) - - - - [mailto:?subject=Check%20out%20https://smartbizbank.com/blog/sba-increases-max-small-loan-amount-to-500000](mailto:?subject=Check%20out%20https://smartbizbank.com/blog/sba-increases-max-small-loan-amount-to-500000) # SBA Increases SBA 7(a) Max Small Loan Amount to $500,000 September 5, 2023 By [Caitlin Rose ](https://smartbizbank.com/blog/author/caitlin-rose) Earlier this year, the Small Business Administration (SBA) announced an increase to the maximum loan amount for the 7(a) SBA loan. The new max loan amount is $500,000, an increase from $350,000 or less. This increase puts the 7(a) loan maximum at the same amount as the SBA Express Loan Program. Both of these programs play important roles in supporting small businesses by providing access to capital and favorable loan terms. [![See if you pre-qualify](https://no-cache.hubspot.com/cta/default/21458256/3d216d78-601b-4bc6-b9d5-3df52894e921.png)](https://cta-redirect.hubspot.com/cta/redirect/21458256/3d216d78-601b-4bc6-b9d5-3df52894e921) ## More capital, more options With the increase to $500,000, small businesses may use their loans to increase capital, fuel growth, hire new employees, and contribute to the economic wellbeing of their communities.  SBA loan funds may be used in many [different ways](https://www.sba.gov/funding-programs/loans/7a-loans), including: - Acquiring, refinancing, or improving real estate and buildings - Short- and long-term working capital  - Refinancing current business debt  - Purchasing and installation of machinery and equipment - Purchasing furniture, fixtures, and supplies  - Changes of ownership (complete or partial) - Multipurpose loans, including any of the above Small businesses that experience high levels of seasonality may especially benefit from this increase. Having additional working capital to make payroll, stock inventory, and upgrade equipment during off-seasons may help ensure seasonal businesses stay afloat all year round.  ## Small loan, huge opportunity Small businesses across different industries may apply for SBA 7(a) loans. The [ top five industries](https://careports.sba.gov/views/7a504Summary/Report?%3Aembed=yes&%3Atoolbar=no) to access SBA funds are: - Construction - Accommodations and Food Services - Retail - Professional, Scientific, and Technical Services - Health Care and Social Assistance Across all SBA loan types, 50% of loans are under $150,000, with the majority of all loans under $50,000. However, with the recent increase, small businesses may begin applying for higher loan amounts.  [![See if you pre-qualify](https://no-cache.hubspot.com/cta/default/21458256/148aad69-7273-4b38-a750-fffe1a2ccf0b.png)](https://cta-redirect.hubspot.com/cta/redirect/21458256/148aad69-7273-4b38-a750-fffe1a2ccf0b) ## Amazing Balloons by Gee®: A success story One business that has used SBA loan funds to their advantage is Amazing Balloons by Gee, a SmartBiz® client. Claudia Gee formed Amazing Balloons by Gee with her husband more than 20 years ago. Amazing Balloons by Gee specializes in creating theme decor for all occasions, big and small. At the height of their business, they had eight people working from their home-based office in Southern California. Then tragedy struck the U.S. on September 11, 2001.  After 9/11, parties stopped. Gee and her husband used personal credit cards to keep their business operating. They were able to weather the storm and come back strong. Gee had a business line of credit as well, but the line of credit was sold to a bank and closed. Gee had to keep making payments but was unable to access money for their business. It became harder to manage cash flow and like many small business owners, she found it difficult to secure the relatively small loan size she wanted. That’s when she discovered SBA loans and SmartBiz. After a five-minute pre-qualification, Gee started the application process. She secured a $150,000 loan with 10-year payback, consolidated debt, and reduced their monthly payments from $4,000 to $1,600. Gee and her husband are expanding their team and looking forward to growing their business, instead of their credit card debt. Read more of [their story](https://smartbizbank.com/blog/business-owners/case-study-amazing-balloons-by-gee?_ga=2.170177766.75998571.1693428179-1279578818.1690923652&_gac=1.146651462.1690933816.Cj0KCQjw2qKmBhCfARIsAFy8buIBlKDywwYSzKV4f-NZORdl8V_NsmxhcMvJEYIztvnNeX5Ji3arh3kaAgvBEALw_wcB&_gl=1*1n14y4x*_ga*MTI3OTU3ODgxOC4xNjkwOTIzNjUy*_ga_XVVPHT4JER*MTY5MzQzODc3NC4yMy4xLjE2OTM0Mzg3ODUuMC4wLjA). ## Applying for a SBA  loan If your business could benefit from a SBA loan, SmartBiz may be able to help. Our dedicated team and streamlined application process makes it easier than ever to find the right loan for what your business needs. Pre-qualify for up to $500,000 in just five minutes. Find out more and [apply today](https://www.smartbizloans.com/apply). [![See if you pre-qualify](https://no-cache.hubspot.com/cta/default/21458256/11a444ec-35ef-489a-95bb-23fe9c10727f.png)](https://cta-redirect.hubspot.com/cta/redirect/21458256/11a444ec-35ef-489a-95bb-23fe9c10727f) ![Q3 Promo E1](https://smartbizbank.com/hubfs/Q3%20Promo%20Email%20Images/Q3%20Promo%20E1.png) ### Access Funds Quickly Apply for a Bank Term Loan from a bank in our trusted network [![See if you pre-qualify](https://no-cache.hubspot.com/cta/default/21458256/08df270b-4561-4437-a5aa-11d47ef08efb.png)](https://cta-redirect.hubspot.com/cta/redirect/21458256/08df270b-4561-4437-a5aa-11d47ef08efb) - [Follow SmartBiz](https://smartbizbank.com/blog/sba-increases-max-small-loan-amount-to-500000#) - - - - - ### Access to the right loan for right now We’re connecting small businesses with SBA, bank term loans, lines of credit, and flexible financing options. [![See if you pre-qualify](https://no-cache.hubspot.com/cta/default/21458256/08df270b-4561-4437-a5aa-11d47ef08efb.png)](https://cta-redirect.hubspot.com/cta/redirect/21458256/08df270b-4561-4437-a5aa-11d47ef08efb) ##### Topic - [Business Loans](https://smartbizloans.com/blog/tag/business-loans) - [Business Stories](https://smartbizloans.com/blog/tag/business-stories) - [Marketing](https://smartbizloans.com/blog/tag/marketing) - [Money Management](https://smartbizloans.com/blog/tag/money-management) - [Operations](https://smartbizloans.com/blog/tag/operations) ## Related Posts [ See all blog posts ](https://smartbizbank.com/blog) [Money Management July 01, 2026 ## How to Reforecast Your Budget Based on Summer Trends When you built your company’s budget for this year, you no doubt looked at past data. However, there were probably also some future projections that... Read More ](https://smartbizbank.com/blog/reforecast-your-budget-with-summer-trends-smartbiz-bank) [Money Management June 24, 2026 ## The Counterintuitive Truth About Summer Slowdowns For many small business owners, summer is an uncomfortable time of year. Many consumers travel or spend more time at home, which typically leads to them making fewer... Read More ](https://smartbizbank.com/blog/do-less-this-summer-to-grow-your-business-smartbiz-bank) [Money Management June 22, 2026 ## Small Business Revenue: Determine Where You Stand As a business owner, regularly reviewing your annual revenue gives you a clear picture of your company’s current health and helps you evolve your business strategically so... Read More ](https://smartbizbank.com/blog/small-business-revenue-determine-where-you-stand) ### Smart growth is smart business ## Access to the right loan for right now See if you pre-qualify, without impacting your credit score. 1 [ Apply Now ](https://smartbizbank.com/apply) 1. We conduct a soft credit pull that will not affect your credit score. However, in processing your loan application, SmartBiz Bank and the lenders with whom we work will request your full credit report from one or more consumer reporting agencies, which is considered a hard credit pull and may impact your credit score. The SmartBiz® Small Business Blog and other related communications from SmartBiz BankSM are intended to provide general information on relevant topics for managing small businesses. Be aware that this is not a comprehensive analysis of the subject matter covered and is not intended to provide specific recommendations to you or your business with respect to the matters addressed. Please consult legal and financial professionals for further information. ```json { "@context" : "https://schema.org", "@type" : "Blog", "blogPost" : [ { "@type" : "BlogPosting", "author" : { "@type" : "Person", "name" : "SmartBiz Bank Editorial Team" }, "dateModified" : "2024-01-15", "datePublished" : "2024-01-15", "description" : "Learn how SBA loans can provide the capital and flexibility small businesses need to expand operations, hire staff, and invest in growth.", "headline" : "How SBA Loans Can Help Your Small Business Grow", "publisher" : { "@type" : "Organization", "logo" : { "@type" : "ImageObject", "url" : "https://smartbizbank.com/wp-content/themes/smartbiz/assets/images/logo.svg" }, "name" : "SmartBiz Bank" }, "url" : "https://smartbizbank.com/blog/sba-loans-help-small-business" }, { "@type" : "BlogPosting", "author" : { "@type" : "Person", "name" : "SmartBiz Bank Editorial Team" }, "dateModified" : "2024-02-05", "datePublished" : "2024-02-05", "description" : "Tips and strategies for small business owners to strengthen their SBA loan applications and increase approval chances.", "headline" : "5 Tips for Improving Your SBA Loan Approval Chances", "publisher" : { "@type" : "Organization", "logo" : { "@type" : "ImageObject", "url" : "https://smartbizbank.com/wp-content/themes/smartbiz/assets/images/logo.svg" }, "name" : "SmartBiz Bank" }, "url" : "https://smartbizbank.com/blog/sba-loan-approval-tips" } ], "description" : "The SmartBiz Bank Blog provides insights, tips, and guidance for small business owners on SBA loans, business financing, and financial strategies to grow their companies.", "inLanguage" : "en", "mainEntityOfPage" : { "@type" : "WebPage", "url" : "https://smartbizbank.com/blog" }, "name" : "SmartBiz Bank Blog", "publisher" : { "@type" : "Organization", "logo" : { "@type" : "ImageObject", "url" : "https://smartbizbank.com/wp-content/themes/smartbiz/assets/images/logo.svg" }, "name" : "SmartBiz Bank", "url" : "https://smartbizbank.com" }, "url" : "https://smartbizbank.com/blog" } ```