SBA 7(a) and 504 Loans to Latino-owned businesses. Growing IncreaseAccording to SBA data, the agency has approved nearly 7,300 loans to Latino-owned businesses so far in fiscal year 2023 through the 7(a) and 504 programs. “We are seeing a small business boom and the fastest creation rate of Latino-owned businesses in over a decade. The SBA 504 loan, meanwhile, provides long-term fixed-rate financing of up to $5.5 million for large fixed asset purchases by small businesses. There are 5 million Latino-owned businesses in the United States that contribute more than $800B a year to the American economy.