Obama Seeks SBA Loan Increases

The Recovery Act has allowed the SBA to make some changes to help even more small businesses this year, and has provided about 33,000 loans totaling $13 billion for entrepreneurs and small business owners.  Still, many of America’s small business owners are finding that the maximum loan size of SBA’s top two loan programs, $2 million, can only go so far.

President Obama called on Congress yesterday to increase caps on SBA  loan programs to $5 million. The president also announced plans to make capital more affordable to community development financial institutions that focus on providing credit to small businesses in America.

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