Backed by Jobs Act, SBA lending in Last Quarter Set Records
Following is the full statement from SBA Administrator Karen Mills: “In just three months since the Small Business Jobs Act was signed into law, SBA supported more than $12 billion in lending to small businesses and entrepreneurs across the country. SBA is on the front lines with small business owners and our lending partners every single day. I’m very proud that as a result of those close relationships and partnerships we were able to quickly put this significant amount of capital into the hands of our nation’s largest job creation engine. “The loan enhancements of higher guarantees and reduced fees first implemented as part of the Recovery Act have been a vital resource for tens of thousands of small businesses at a critical time when lending markets had dried up. Beginning in February 2009, these loan enhancements engineered a significant turnaround in SBA lending, including driving record-high levels of SBA lending in recent weeks. The end result is that the agency helped put m