25 Oct '11, 10am

SBA Loans Hit Record Volume for 2011

Both Advantage lending programs provide streamlined applications for loans under $250,000 with the standard 7(a) guarantee. The goal is to encourage lenders to make loans for smaller dollar amounts; these loans often go to underserved communities. In addition, Community Advantage makes it easier for small businesses to find loans in their communities by allowing “mission focused” lenders, such as Community Development Financing Institutions (CDFIs) and microlenders to make 7(a) loans. The SBA added 30 new lenders to the 7(a) lending program through the Community Advantage program in FY 2011.

Full article: http://www.networksolutions.com/smallbusiness/2011/10/sba...

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