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SBA: Recovery Act Sparks Loan Volume Turnaround

The SBA said its two largest programs have approved $11.3 billion in loans as a result of reduced fees and higher guarantees under the American Recovery and Reinvestment Act.

By Michelle A. Samaad | Updated on October 04, 2009

The SBA said its two largest programs have approved $11.3 billion in loans as a result of reduced fees and higher guarantees under the American Recovery and Reinvestment Act.

Since the Recovery Act was signed on Feb. 17, the SBA said it has supported more than $11.3 billion in lending to small businesses through its 7(a) and 504 loans programs and seen its average weekly dollar volume increase by more than 60% in comparison to the weeks before the Recovery Act.

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