If all goes as planned, there will be 3,000 more active lenders in the SBA's 7(a) loan program by September 2011.
The agency has put together its Open Government Plan, a report that details a number of approaches to increase transparency, participation and collaboration. Specifically, the SBA has several efforts underway to make data and other information about its programs and activities available to customers and stakeholders as well as to improve collaboration with its partners and implement tools and strategies to increase participation with input from the public.
Under the plan, one of four performance goals is to expand access to capital with the aim of increasing the number of active SBA lending partners for the 7(a) loan program to 3,000 by Sept. 30, 2011, which would be a 15% increase over fiscal years 2008 and 2009′s average, the agency said. The SBA's Office of Capital Access, which manages lending programs through product development, oversight and processing, will lead this initiative. Through increased outreach from staff in district offices to credit unions and other lenders, the agency hopes that small business owners will have more access points to capital.
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