An uptick in the SBA's 7(a) loans has helped the agency's secondary market increase lending activity.
After months of reduced activity and lower premiums, the SBA said its 7(a) secondary market is starting to recover.
The SBA's Office of Inspector General has confirmed it is reviewing a sample of 300 American Recovery and Reinvestment Act loans as a usual oversight measure and not because those loans have a tendency for a higher number of defaults.
The SBA's two largest loan programs recently received another extension that is estimated to support nearly $1.4 billion in small business lending under legislation signed by President Obama March 26.
President Obama has signed legislation that would extend the SBA's ability to provide higher guarantee levels through March 28 and fee waivers for 7(a) loans until Sept. 30.