The recovery act was signed on Feb 17th and over $11 billion dollars has been lent to small business under the SBA loans program. That is a 60% increase in loans week to week compared to before the recovery act was made into law.
Small businesses have benefited during this economical down turn by learning about the different programs offered by the Small Business Administration. Having access to capital is the life blood to the business owner. The volume of lending was the highest in September since 2007. This is a good trend for our economy.
According to Karen Mills the SBA Administrator the Recovery act “hit the mark” with the increase in lending. This has not only put more capital in the hands of small businesses, it also brought back 1200 commercial banks back into the SBA loan lender program making it easier to find a capital.
The SBA 7a loan is the basic and most popular loan program that the SBA has to offer the borrower. Form more information about the SBA 7a loan program visit http://www.sbaloans-
