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SBA Expands Microloan Program

on September 01, 2009 Source: Policy Dialogue on Entrepreneurship

The Small BusinessAdministration (SBA) has expanded its Microloan program as Recovery Act fundsare making their way into access to capital programs for small businesses. Theincreased funds -- an additional $50 million for loans and $24 million for technical assistance from the the American Recovery and Reinvestment Act -- allow for an expanded list of lenders and more SBA efforts toimprove consumer knowledge of the program.

Commenting on theexpansion of the program, Senate Committee on Small Business andEntrepreneurship Chair Senator Mary Landrieu, D-La, said: “With the expansion of theMicroloan program, small businesses and entrepreneurs will have greater accessto the capital they need to keep their businesses running effectively, and topurchase much-needed equipment and supplies.”

Category:  Capitol Hill  Tags:  sba, microloan, landrieu

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