BizSugar.com › Raising Capital › New Recovery Act Funding Extension for SBA Loans-What it Means to Your Business

On March 2, President Obama signed legislation extending the availability of Recovery Act funds for certain Small Business Administration (SBA)-guaranteed loan programs. This is good news for small businesses seeking start-up and growth financing. The SBA estimates that the additional funding will support about $1.8 billion in lending by extending its ability to guarantee loans enhanced by Recovery Act provisions.