Stimulus Package Leading to More Small Business Loans

90% Increase in SBA Loans since passage of the Recovery Act

As part of the American Recovery and Reinvestment Act (ARRA), the SBA received $730 million to help small businesses obtain the capital necessary to survive the recession.  As of June 25, the SBA has supported more than $29.2 billion in small business lending with the approval of $21.9 billion in Recovery loans.

?From Feb. 17, 2009 to June 25, 2010, weekly SBA loan dollar volumes rose more than 90 percent in the 7(a) and 504 programs, compared to the weekly average before passage.?

The number of lenders making loans increased with by more than 1,363 lenders who had not made a SBA loan since at least 2007. In addition, as of June 25, SBA has approved 7,871 ARC loans totaling over $254.8.5 million by 1,265 lenders to help small businesses survive the recession.

For more information, go to SBA’s Economic Recovery Efforts and Impact June 28, 2010.

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