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With just two credit unions enrolled in its micro loan program, the SBA said it is doing all it can to boost the industry’s numbers and is hoping a new round of funding will be an incentive.

In late August, the agency said the American Recovery and Reinvestment Act funded an additional $50 million for loans and $24 million for technical assistance to increase access to capital for small businesses. Congress actually appropriated $6 million for the micro loan program with the SBA leveraging up to $50 million toward the loans. The program is shifting to funding provided under the Recovery Act now that it has exhausted the regular FY 2009 appropriations for $20 million in loans and $20 million in technical assistance.

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