SBA Lends at Record Levels

By Dave Grogan on Wednesday, Sep 28, 2011

Since the enactment of the Small Business Jobs Act of 2010, which modified the U.S. Small Business Administration’s (SBA) two largest loan programs, including a new $30 billion Small Business Lending Fund, SBA lending has reached record levels.

Sen. Mary Landrieu, (D-LA), chair of the Senate Committee on Small Business and Entrepreneurship, said this week that in the year since President Obama signed the Small Business Jobs Act into law, SBA’s two largest loan programs helped to support close to 275,000 jobs.

“The Small Business Jobs Act spurred lending to America’s small business,” Landrieu said in a statement. “Our goal was to help entrepreneurs keep their doors open, allow them to expand their businesses, and ultimately, to create new jobs in their communities. And today, I am pleased to report that we are seeing the results on Main Street.”

The Small Business Jobs Act allocated $505 million in fee relief and increased guarantees to help support small business borrowers and entrepreneurs. As of September 16, 2011, the expansion of the 7(a) and 504 loan limits has resulted in nearly $10.9 billion to assist more than 20,000 small businesses nationwide.

Booksellers at the fall regional shows are invited to attend a special SBA presentation, sponsored by American Booksellers Association, focusing on how SBA can help stores in accessing working capital, business counseling, and other important resources. Upcoming presentations of “What can the SBA do for your bookstore?” include:

  • At MPIBA – Friday, September 30, from 9:30 a.m. - 10:30 a.m.
  • At NEIBA  –  Thursday, October 13, from 2:15 p.m. - 3:45 p.m.
  • At PNBA  –  Thursday, October 13, from 10:30 a.m. - 11:45 a.m.
  • At GLIBA  –  Friday, October 14, from 3:00 p.m. - 4:00 p.m.
  • At SCIBA  –  Saturday, October 22, from 3:15 p.m. - 4:15 p.m. 
  • At NCIBA  –  Thursday, October 27, from 10:00 a.m. - 11:30 a.m. 

Booksellers can also sign up for one-on-one discussions with SBA representatives following the presentations at an online registration page.

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