The Small Business Administration plans to increase slightly the 7(a) program loans that it will back this year, to $9.6 billion.

Before adjourning for the year, Congress cut SBA's fiscal 1998 budget by 16%, to $716 million. However, most of that reduction affects the agency's disaster-relief programs, which had funds remaining from last fiscal year, a spokesman said.

Limited Time Offer

Save $400 off your subscription. Special offer ends April 30, 2017.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.