August 17, 2018  
 
Gaebler.com is a daily online magazine covering small business news. We help entrepreneurs transform ideas and innovations into greatness.

Small Business News for Entrepreneurs

 

Small Business Finance News

 

SBA Lending Tops $12 Billion In 2010

Written by Ken Gaebler
Published: 1/4/2011

The small business sector is set to receive more than $12 billion of financed capital created by September's Small Business Jobs Act.

Financial news for entrepreneurs from the U.S. Small Business Administration could leave many small business owners feeling a bit more hopeful.

Entrepreneur Business Chart

This week, the SBA announced that since President Barack Obama signed the Small Business Jobs Act of 2010 on September 27, it has approved more than $10.3 billion in loan guarantees, supporting more than $12 billion in small business lending.

Additionally, the federal agency revealed that in only three months, it had made all $505 million of the provided subsidies available to its national network of lending partners.

"While we are proud of how quickly SBA could provide $12 billion in capital to small businesses, we remain focused on implementing other key provisions of this law that will continue to expand access to capital, help small businesses compete for federal contracting dollars, strengthen small business exports and provide other critical support," SBA Administrator Karen Mills said in a statement.

As a whole, small business borrowing has continued to increase. According to a report by PayNet, borrowing reached its highest level in more than two years last November.

Have Friends Who Might Like This Article?

Tweet via @gaeblerdotcom Share this on Twitter

Let them know on LinkedIn

Ready to Learn More? We Think You Might Like These Articles:

 


About Our Entrepreneur News Feeds

If this news for entrepreneurs inspired you, you can find many other small business news articles on our site. We cover important news stories for entrepreneurs. In addition to breaking news for entrepreneurs, we also have tons of useful articles that cover things like writing a business plan, preparing a marketing plan, getting publicity and much more.

 

 

Additional Resources for Entrepreneurs

Help for Native American Entrepreneurs

Resources for Gay Entrepreneurs

Businesses for Sale

Online Entrepreneur Tools

Economics

Lists of Small Business Incubators

Lists of Angel Investors