When the American Recovery and Reinvestment Act was announced back in
February 2009, the SBA received $730 million of federal stimulus
funding from the program. Loan demand soon gobbled up that funding, and
in December, the SBA received an additional $125 million (I blogged
about that extension on Small
Business Trends last month).
SBA Administrator Karen Mills told BizJournals.com
that the SBA was able to immediately get that money distributed to small businesses. However, the extension runs out at the end of February. President Obama has now called for extending the recovery act provisions for the SBA through September 30, 2010. The House has passed legislation that includes $323 million in funding for the extension; the Senate still needs to act on the proposal.
To read the full, original article click on this link: What’s Happening with SBA Lending—and Do Small-Business Owners Care? | Small Business Trends
Author: Rieva Lesonsky
