Stimulus helps SBA loans bounce back

October 2009
njbiz;10/12/2009, Vol. 22 Issue 41, p13
The article announces that changes in the U.S. Small Business Administration (SBA) loan programs funded by the federal stimulus act have raised the volume of loans in New Jersey. Since January 2009, SBA has given out 1,009 loans amounting to 336.2 million U.S. dollars. Over 600 loans totaling to 234.3 million U.S. dollars were also approved for small businesses in the state. Half of the stimulus money that SBA received was used to raise guarantee to lending partners and waiving the guarantee fee that SBA assesses on the loans it supports.


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