Dallas Forth Worth Sees Big Gains For Small Business Lending
Written by Ken Gaebler
The Dallas-Forth Worth area has seen a major increase in lending from the Small Business Administration.
There is welcome financial news for entrepreneurs in Texas who may be looking for loan opportunities.
Loans from the U.S. Small Business Administration increased 84 percent in the Dallas-Fort Worth area during the first six months of the current fiscal year, the Dallas Business Journal reports.
The significant growth has been attributed to a slowly improving economy, lenders willing to lend, and entrepreneurs who are taking risks, SBA district director Herbert Austin told the paper.
"We expect that fiscal 2010 will continue on this trend," he said, adding that "the year should turn out to be the best year ever in small business lending for the Dallas-Fort Worth office."
According to the paper, other regions around the state have reported major increases in guaranteed loan programs as well.
On top of more willing lenders and bolder small business owners, companies have also seen the benefit of stimulus programs enacted to spur small business lending. Recently signed legislation extended the amount of time the SBA will be able to provide enhancements through its loan programs, pushing the deadline back to the end of April.
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