Changes

*Intended to supply funds for asset purchases (i.e., land or equipment)

*Like the 7(a) program, the 504 program is restricted to small businesses with less than $7 million in tangible net worth and less than $2.5 million in net income. However, since funds from 504 loans can't be used for working capital or inventory, consolidating or repaying debt, or refinancing, this program tends to exclude most service businesses that need to purchase land or equipment. [http://www.entrepreneur.com/article/79254| ]

==7(m) Microloan Program==

*Intended to provide "small" loans of up to $35,000 that can be used for a broad range of purposes to start and grow a business.