Source: North Bay Business Journal —
For the first time in its history, the U.S. Small Business Administration ran out of money to lend for real estate and equipment acquisitions.
The funds in the 504 program were exhausted as of Sept. 7 for the 2020–2021 fiscal year, the SBA reported. Funding was restored at the beginning of the new fiscal year Oct. 1.
Despite the seemingly short time span, the three-week hiccup proved challenging for top loan provider TMC Financing, out of Oakland.