WASHINGTON-The stimulus bill passed earlier this year make wholesale changes to some federal loan programs, resulting in a rebound in Small Business Administration-backed business loans. The SBA has supported $11.3 billion in loans through its two largest programs since the bill was passed in mid-February and the average number of loans approved each week is 50% higher than it was in the weeks prior to the Recovery Act's passage. In the seven weeks before the bill's being signing, SBA's average weekly dollar volume was $165 million; since its passage that number has jumped to $275 million. September brought in the highest volume of loans in a single month, $1.9 billion, the SBA has seen since Aug. 2007.
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For more info: www.sba.gov
