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In just one day, the SBA said it was able to approve 1,939 loans totaling nearly $970 million after the recently signed Small Business Jobs Act of 2010 provided funding for increased loan guarantees and reduced fees.

The loans were approved yesterday, the SBA said today. Small business owners had been waiting for additional funding and putting applications in the queue since the end of May when authority for higher loan guarantees expired and previous Recovery Act loan funding was exhausted.

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