SBA Credits Small Business Jobs Act of 2010 for 4th Quarter Increase in Loans

Today SBA Administrator Karen Mills announced that thanks to the Small Business Jobs Act of 2010, the Small Business Administration has approved more than $10.3 billion in loan guarantees, supporting more than $12 billion in lending to 22,000 small businesses between September 27 and December 31. Signed into law by President Obama earlier this year, the Jobs Act provides an extension of reduced fees and higher guarantee loan enhancements in the SBA’s two largest loan programs.

“These enhancements have been a key piece of the Obama Administration’s efforts to help small businesses drive our nation’s economic recovery.