In response to lenders concerns, the Small Business Administration said it will consider larger "goodwill" amounts on a case by case basis through Aug. 31.

The agency said goodwill is the difference between what a buyer pays for an existing business and the book or fair market value of the assets of the business. Goodwill is one of the riskiest assets that can be financed, because it typically has no liquidation value in the event a loan defaults, the SBA said.

The guidance allows SBA loans to be used to finance goodwill, but limits that financing to no more than half the loan amount, up to $250,000. Until the agency's new SBA's standard operating procedures were issued for its loan programs last year, the previous guidance for goodwill was that sellers should finance it when a business was sold. However, as lenders increasingly used SBA-guaranteed loans to finance business sales, the agency issued more specific guidance, which was due to take effect on March 1.