SBA’s Economic Recovery Efforts and Impact Top $29.4 Billion

The U.S. Small Business Association [SBA] received $730 million in the American Recovery and Reinvestment Act [ARRA] to help unlock the small business-lending market and get capital flowing again to America’s small businesses. Due to the success of these programs, the SBA received an additional $305 million to continue several ARRA programs.

SBA Recovery Efforts -- Impact to Date
* SBA Has Supported More Than $29.4 Billion in Recovery Loans to Small Businesses: As of July 30, SBA had supported $29.4 billion-plus in small-business lending, with the approval of $22.1 billion in Recovery loans since Feb. 17, 2009. From ARRA's inception on Feb. 17, 2009, to July 30, 2010, weekly SBA loan-dollar volumes rose more than 90 percent in the 7[a] and 504 loan programs, compared to the weekly average before passage.

* Broad Support to Businesses: A significant share of Recovery loans have gone to rural [24 percent], minority-owned [21 percent], women-owned [18 percent], and veteran-owned [8 percent] businesses.

* Secondary Markets Uptick with 7[a] Loans: After months of reduced activity and lower premiums, the SBA 7[a] secondary market is picking up, and premiums are beginning to recover. Over the past 13 months, the average monthly loan volume settled from lenders to broker-dealers in the 7[a] secondary market has been $342 million, providing lenders with additional liquidity to increase lending.

* America's Recovery Capital [ARC] Loans Helping Small Businesses: As of July 30, SBA had approved 8,130 ARC loans -- totaling over $263.3 million by 1,278 lenders -- to help small businesses make it through this tough economy.

SBA Recovery Programs
To date, SBA has implemented programs for all of the $730 million in SBA Recovery Act funding -- plus an additional $305 million provided in December, February, March, and April -- for the agency’s lending programs, including:

* Eliminating and reducing fees for borrowers on 7[a] loans, and for borrowers and lenders on 504 loans;

* Raising to 90 percent the guarantee on 7[a] loans -- from 75 or 85 percent, depending on the size of loan;

* Doubling the surety bond guarantee from $2 million to $5 million, thus providing small businesses with another tool to help them compete for federal construction and service contracts;

* Assisting struggling small businesses with the new ARC loan program, which provides no-interest, deferred-repayment loans of up to $35,000 to viable businesses to help them make debt payments;

* Providing refinancing opportunities for certain eligible loans into SBA-backed 504 loans for expansion and job creation;

* Expanding access to investment capital for small businesses, by increasing funding levels for SBA-licensed Small Business Investment Companies [SBICs]; and

* Taking steps to ensure the stability of the secondary market for SBA loans.

The SBA has also implemented two new programs that complement the ARRA measures and increase access to capital for small businesses by:

* Expanding 7[a] loan eligibility to more than 70,000 small businesses through a temporary alternate size standard; and

* Offering inventory financing for eligible auto, RV, boat and other dealerships under the new Dealer Floor Plan Financing pilot program.

To learn more about how SBA and the Recovery Act are helping small businesses succeed throughout America, go to: http://bit.ly/SuccessStoriesSBA.

SOURCE: U.S. Small Business Administration
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SBA-Backed Loans to Small Businesses Top $29.3 Billion, Thanks to Recovery Act Funding

The U.S. Small Business Association [SBA] received $730 million in the American Recovery and Reinvestment Act [ARRA] to help unlock the small business-lending market and get capital flowing again to America’s small businesses. Due to the success of these programs, the SBA received an additional $305 million to continue several ARRA programs.

SBA Recovery Efforts -- Impact to Date
* SBA Has Supported More Than $29.3 Billion in Recovery Loans to Small Businesses: As of July 2, SBA had supported $29.3 billion-plus in small-business lending, with the approval of $22 billion in Recovery loans since Feb. 17. From Feb. 17, 2009, to July 2, 2010, weekly SBA loan-dollar volumes rose more than 90 percent in the 7[a] and 504 programs, compared to the weekly average before passage.

* More Lenders Making Loans: From Feb. 17, 2009, to June 25, 2010, more than 1,363 lenders who had not made a loan since at least 2007 made a 7[a] loan.

* Broad Support to Businesses: A significant share of Recovery loans have gone to rural [24 percent], minority-owned [21 percent], women-owned [18 percent], and veteran-owned [8 percent] businesses.

* Secondary Markets Uptick with 7[a] Loans: After months of reduced activity and lower premiums, the SBA 7[a] secondary market is picking up, and premiums are beginning to recover. Over the past 13 months, the average monthly loan volume settled from lenders to broker-dealers in the 7[a] secondary market has been $342 million, providing lenders with additional liquidity to increase lending.

* America's Recovery Capital [ARC] Loans Helping Small Businesses: As of July 2, SBA had approved 7,925 ARC loans -- totaling over $256.6 million by 1,268 lenders -- to help small businesses make it through this tough economy.

SBA Recovery Programs
To date, SBA has implemented programs for all of the $730 million in SBA Recovery Act funding, plus an additional $305 million provided in December, February, March, and April for the agency’s lending programs -- including:

* Eliminating and reducing fees for borrowers on 7[a] loans, and for borrowers and lenders on 504 loans;

* Raising to 90 percent the guarantee on 7[a] loans -- from 75 or 85 percent, depending on the size of loan;

* Doubling the surety bond guarantee from $2 million to $5 million, thus providing small businesses with another tool to help them compete for federal construction and service contracts;

* Assisting struggling small businesses with the new ARC loan program, which provides no-interest, deferred-repayment loans of up to $35,000 to viable businesses to help them make debt payments;

* Providing refinancing opportunities for certain eligible loans into SBA-backed 504 loans for expansion and job creation;

* Expanding access to investment capital for small businesses, by increasing funding levels for SBA-licensed Small Business Investment Companies [SBICs]; and

* Taking steps to ensure the stability of the secondary market for SBA loans.

The SBA has also implemented two new programs that complement the ARRA measures and increase access to capital for small businesses by:

* Expanding 7[a] loan eligibility to more than 70,000 small businesses through a temporary alternate size standard; and

* Offering inventory financing for eligible auto, RV, boat and other dealerships under the new Dealer Floor Plan Financing pilot program.

To learn more about how SBA and the Recovery Act are helping small businesses succeed throughout America, go to: http://bit.ly/SuccessStoriesSBA.

SOURCE: U.S. Small Business Administration
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SBA Supports More Than $29.2 Billion in Recovery Loans to Small Businesses

The U.S. Small Business Administration [SBA] received $730 million in the American Recovery and Reinvestment Act [ARRA] to help unlock the small-business lending market and get capital flowing again to America’s small businesses. Due to the success of these programs, the SBA has received an additional $305 million to continue some ARRA programs through May.

SBA Recovery Efforts -- Impact to Date
* SBA Has Supported More Than $29.2 Billion in Recovery Loans to Small Businesses: As of June 25, SBA has supported $29.2 billion-plus in small-business lending, with the approval of $21.9 billion in Recovery loans since Feb. 17. From Feb. 17, 2009 to June 25, 2010, weekly SBA loan dollar volumes rose more than 90 percent in the 7[a] and 504 programs, compared to the weekly average before passage.

* More Lenders Making Loans: From Feb. 17, 2009 to June 25, 2010, more than 1,363 lenders who had not made a loan since at least 2007, made a 7[a] loan.

* Broad Support to Businesses: A significant share of Recovery loans have gone to rural [24 percent], minority-owned [21 percent], women-owned [18 percent], and veteran-owned [8 percent] businesses.

* Secondary Markets Uptick with 7[a] Loans: After months of reduced activity and lower premiums, the SBA 7[a] secondary market is picking up, and premiums are beginning to recover. From June to May, the average monthly loan volume settled from lenders to broker-dealers in the 7[a] secondary market has been $330 million, providing lenders with additional liquidity to increase lending.

* America's Recovery Capital [ARC] Loans Helping Small Businesses: As of June 25, SBA has approved 7,871 ARC loans totaling over $254.8.5 million by 1,265 lenders to help small businesses make it through this tough economy.

SBA Recovery Programs
To date, SBA has implemented programs for all of the $730 million in SBA Recovery Act funding, plus an additional $305 million provided in December, February, March and April for the agency’s lending programs -- including:

* Eliminating and reducing fees for borrowers on 7[a] loans, and for borrowers and lenders on 504 loans;

* Raising to 90 percent the guarantee on 7[a] loans -- from 75 or 85 percent, depending on the size of loan;

* Doubling the surety bond guarantee from $2 million to $5 million, providing small businesses with another tool to help them compete for federal construction and service contracts;

* Assisting struggling small businesses with the new ARC loan program, which provides no-interest, deferred-repayment loans of up to $35,000 to viable businesses to help them make debt payments;

* Providing refinancing opportunities for certain eligible loans into SBA-backed 504 loans for expansion and job creation;

* Expanding access to investment capital for small businesses by increasing funding levels for SBA-licensed Small Business Investment Companies [SBICs]; and

* Taking steps to ensure the stability of the secondary market for SBA loans.

The SBA has also implemented two new programs that complement the ARRA measures and increase access to capital for small businesses by:

* Expanding 7[a] loan eligibility to more than 70,000 small businesses through a temporary alternate size standard; and

* Offering inventory financing for eligible auto, RV, boat and other dealerships under the new Dealer Floor Plan Financing pilot program.

To learn more about how SBA and the Recovery Act are helping small businesses succeed throughout America, go to: http://bit.ly/SuccessStoriesSBA.

SOURCE: U.S. Small Business Administration
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SBA-Backed Lending Tops $29 Billion, Thanks to Recovery Act Funds

The U.S. Small Business Administration [SBA] received $730 million in the American Recovery and Reinvestment Act [ARRA] to help unlock the small-business lending market and get capital flowing again to America’s small businesses. Due to the success of these programs, the SBA has received an additional $305 million to continue some ARRA programs through May.

SBA Recovery Efforts -- Impact to Date
* SBA Has Supported More Than $29 Billion in Recovery Loans to Small Businesses: As of June 11, SBA had supported $29 billion-plus in small-business lending, with the approval of $21.7 billion in Recovery loans since Feb. 17. From Feb. 17, 2009 to June 11, 2010, weekly SBA loan dollar volumes rose more than 90 percent in the 7[a] and 504 loan programs, compared to the weekly average before passage.

* More Lenders Making Loans: From Feb. 17, 2009 to June 11, 2010, more than 1,354 lenders who had not made a loan since at least 2007, made a 7[a] loan.

* Broad Support to Businesses: A significant share of Recovery loans have gone to rural [24 percent], minority-owned [20 percent], women-owned [18 percent], and veteran-owned [8 percent] businesses.

* Secondary Markets Uptick with 7[a] Loans: After months of reduced activity and lower premiums, the SBA 7[a] secondary market is picking up, and premiums are beginning to recover. From June to May, the average monthly loan volume settled from lenders to broker-dealers in the 7[a] secondary market has been $330 million, providing lenders with additional liquidity to increase lending.

* America's Recovery Capital [ARC] Loans Helping Small Businesses: As of June 11, SBA had approved 7,776 ARC loans -- totaling over $251.7 million by 1,258 lenders -- to help small businesses make it through this tough economy.

SBA Recovery Programs
To date, SBA has implemented programs for all of the $730 million in SBA Recovery Act funding, plus an additional $305 million provided in December, February, March and April for the agency’s lending programs -- including:

* Eliminating and reducing fees for borrowers on 7[a] loans, and for borrowers and lenders on 504 loans;

* Raising to 90 percent the guarantee on 7(a) loans -- from 75 or 85 percent, depending on the size of loan;

* Doubling the surety bond guarantee from $2 million to $5 million, providing small businesses with another tool to help them compete for federal construction and service contracts;

* Assisting struggling small businesses with the new ARC loan program, which provides no-interest, deferred-repayment loans of up to $35,000 to viable businesses to help them make debt payments;

* Providing refinancing opportunities for certain eligible loans into SBA-backed 504 loans for expansion and job creation;

* Expanding access to investment capital for small businesses by increasing funding levels for SBA-licensed Small Business Investment Companies [SBICs]; and

* Taking steps to ensure the stability of the secondary market for SBA loans.

The SBA has also implemented two new programs that complement the ARRA measures and increase access to capital for small businesses by:
* Expanding 7[a] loan eligibility to more than 70,000 small businesses through a temporary alternate size standard; and

* Offering inventory financing for eligible auto, RV, boat and other dealerships under the new Dealer Floor Plan Financing pilot program.

To learn more about how SBA and the Recovery Act are helping small businesses succeed throughout America, go to: http://bit.ly/SuccessStoriesSBA.

SOURCE: U.S. Small Business Administration
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SBA's Recovery Act-Related Small-Business Lending Tops $28.6 Billion

The U.S. Small Business Administration [SBA] received $730 million in the American Recovery and Reinvestment Act [ARRA] to help unlock the small business-lending market and get capital flowing again to America’s small businesses. Due to the success of these programs, the SBA has received an additional $305 million to continue some ARRA programs through May.

SBA Recovery Efforts -- Impact to Date
* SBA Has Supported More Than $28 Billion in Recovery Loans to Small Businesses: As of June 4, SBA had supported more than $28.6 billion in small-business lending, with the approval of $21.5 billion in Recovery loans since Feb. 17. From Feb. 17, 2009 to June 4, 2010, weekly SBA loan dollar volumes rose more than 90 percent in the 7[a] and 504 loan programs, compared to the weekly average before passage.

* More Lenders Making Loans: From Feb. 17, 2009 to May 28, 2010, more than 1,347 lenders who had not made a loan since at least 2007, made a 7[a] loan.

* Broad Support to Businesses: A significant share of Recovery loans have gone to rural [24 percent], minority-owned [21 percent], women-owned [18 percent], and veteran-owned [8 percent] businesses.

* Secondary Markets Uptick with 7[a] Loans: After months of reduced activity and lower premiums, the SBA 7[a] secondary market is picking up and premiums are beginning to recover. From June to May, the average monthly loan volume settled from lenders to broker-dealers in the 7[a] secondary market has been $330 million, providing lenders with additional liquidity to increase lending.

* America's Recovery Capital [ARC] Loans Helping Small Businesses: As of June 4, SBA has approved 7,711 ARC loans, totaling over $249 million by 1,255 lenders, to help small businesses make it through this tough economy.

SBA Recovery Programs
To date, SBA has implemented programs for all of the $730 million in SBA Recovery Act funding, plus an additional $305 million provided in December, February, March and April for the agency’s lending programs -- including:

* Eliminating and reducing fees for borrowers on 7[a] loans, and for borrowers and lenders on 504 loans;

* Raising to 90 percent the guarantee on 7[a] loans -- from 75 or 85 percent, depending on the size of loan;

* Doubling the surety bond guarantee from $2 million to $5 million, providing small businesses with another tool to help them compete for federal construction and service contracts;

* Assisting struggling small businesses with the new ARC loan program, which provides no-interest, deferred-repayment loans of up to $35,000 to viable businesses to help them make debt payments;

* Providing refinancing opportunities for certain eligible loans into SBA-backed 504 loans for expansion and job creation;

* Expanding access to investment capital for small businesses by increasing funding levels for SBA-licensed Small Business Investment Companies [SBICs]; and

* Taking steps to ensure the stability of the secondary market for SBA loans.

The SBA has also implemented two new programs that complement the ARRA measures and increase access to capital for small businesses by:

* Expanding 7[a] loan eligibility to more than 70,000 small businesses through a temporary alternate size standard; and

* Offering inventory financing for eligible auto, RV, boat and other dealerships under the new Dealer Floor Plan Financing pilot program.

To learn more about how SBA and the Recovery Act are helping small businesses succeed throughout the U.S., go to: http://bit.ly/SuccessStoriesSBA.

SOURCE: U.S. Small Business Administration
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SBA Supports More Than $28.4 Billion in Small-Business Lending

The U.S. Small Business Administration [SBA] received $730 million in the American Recovery and Reinvestment Act [ARRA] to help unlock the small-business lending market and get capital flowing again to America’s small businesses. Due to the success of these programs, the SBA received an additional $305 million to continue some ARRA programs through May.

SBA Recovery Efforts -- Impact to Date
* SBA Supports More Than $28 Billion in Recovery Loans to Small Businesses: As of May 28, SBA had supported $28.4 billion-plus in small-business lending, with the approval of $21.4 billion in Recovery loans since Feb. 17, 2009. From Feb. 17, 2009, to May 28, 2010, weekly SBA loan dollar volumes rose more than 90 percent in the 7[a] and 504 programs, compared to the weekly average before passage.

* More Lenders Making Loans: From Feb. 17, 2009, to May 28, 2010, more than 1,321 lenders who had not made a loan since at least 2007, made at least one 7[a] loan.

* Broad Support to Businesses: A significant share of Recovery loans have gone to rural [24 percent], minority-owned [21 percent], women-owned [18 percent], and veteran-owned [8 percent] businesses.

* Secondary Markets Uptick With 7[a] Loans: After months of reduced activity and lower premiums, the SBA 7[a] secondary market is picking up and premiums are beginning to recover. From June to May, the average monthly loan volume settled from lenders to broker-dealers in the 7[a] secondary market has been $330 million, providing lenders with additional liquidity to increase lending.

* America's Recovery Capital [ARC] Loans Helping Small Businesses: As of May 28, SBA has approved 7,658 ARC loans totaling more than $248 million by 1,250 lenders, to help small businesses make it through this tough economy.

SBA Recovery Programs
To date, SBA has implemented programs for all of the $730 million in SBA Recovery Act funding -- plus an additional $305 million provided in December, February, March, and April for the agency’s lending programs -- including:

* Eliminating and reducing fees for borrowers on 7[a] loans, and for borrowers and lenders on 504 loans;

* Raising to 90 percent the guarantee on 7[a] loans from 75 or 85 percent, depending on the size of loan;

* Doubling the surety bond guarantee from $2 million to $5 million, providing small businesses with another tool to help them compete for federal construction and service contracts;

* Assisting struggling small businesses with the new ARC loan program, which provides no-interest, deferred-repayment loans of up to $35,000 to viable businesses to help them make debt payments;

* Providing refinancing opportunities for certain eligible loans into SBA-backed 504 loans for expansion and job creation;

* Expanding access to investment capital for small businesses by increasing funding levels for SBA-licensed Small Business Investment Companies [SBICs]; and

* Taking steps to ensure the stability of the secondary market for SBA loans.

The SBA has also implemented two new programs that complement the ARRA measures and increase access to capital for small businesses by:

* Expanding 7[a] loan eligibility to more than 70,000 small businesses through a temporary alternate size standard; and

* Offering inventory financing for eligible auto, RV, boat and other dealerships under the new Dealer Floor Plan Financing pilot program.

To learn about how SBA and the Recovery Act are helping small businesses succeed throughout the nation, go to: http://bit.ly/SuccessStoriesSBA.

SOURCE: U.S. Small Business Administration
____________________

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SBA Supports More Than $27.5 Billion in Small-Business Lending

The U.S. Small Business Administration received $730 million in the American Recovery and Reinvestment Act [ARRA] to help unlock the small-business lending market and get capital flowing again to America’s small businesses. Due to the success of these programs, the SBA has received an additional $305 million to continue some ARRA programs through May.

SBA Recovery Efforts -- Impact to Date
* SBA Has Supported More Than $27 Billion in Recovery Loans to Small Businesses: As of May 21, SBA has supported more than $27.5 billion in small-business lending, with the approval of $20.6 billion in Recovery loans since Feb. 17. From Feb. 17, 2009, to May 21, 2010, weekly SBA loan dollar volumes rose more than 90 percent in the 7[a] and 504 programs, compared to the weekly average, before passage.

* More Lenders Making Loans: From Feb. 17, 2009, to May 21, 2010, more than 1,309 lenders who had not made a loan since at least 2007 made a 7[a] loan.

* Broad Support to Businesses: A significant share of Recovery loans have gone to rural [24 percent], minority-owned [20 percent], women-owned [18 percent], and veteran-owned [8 percent] businesses

* Secondary Markets Uptick with 7[a] Loans: After months of reduced activity and lower premiums, the SBA 7[a] secondary market is picking up and premiums are beginning to recover. From June to April, the average monthly loan volume settled from lenders to broker-dealers in the 7[a] secondary market has been $336 million, providing lenders with additional liquidity to increase lending.

* ARC Loans Helping Small Businesses: As of May 21, SBA has approved 7,582 ARC loans totaling over $245.4 million by 1,249 lenders to help small businesses make it through this tough economy.

SBA Recovery Programs
To date, SBA has implemented programs for all of the $730 million in SBA Recovery Act funding and an additional $305 million provided in December, February, March, and April for the agency’s lending programs, including:

* Eliminating and reducing fees for borrowers on 7[a] loans, and for borrowers and lenders on 504 loans;

* Raising to 90 percent the guarantee on 7[a] loans from 75 or 85 percent, depending on the size of loan;

* Doubling the surety bond guarantee from $2 million to $5 million, providing small businesses with another tool to help them compete for federal construction and service contracts;

* Assisting struggling small businesses with the new ARC loan program, which provides no-interest, deferred-repayment loans of up to $35,000 to viable businesses to help them make debt payments;

* Providing refinancing opportunities for certain eligible loans into SBA-backed 504 loans for expansion and job creation;

* Expanding access to investment capital for small businesses by increasing funding levels for SBA-licensed Small Business Investment Companies; and

* Taking steps to ensure the stability of the secondary market for SBA loans.

The SBA has also implemented two new programs that complement the ARRA measures and increase access to capital for small businesses by:

* Expanding 7[a] loan eligibility to more than 70,000 small businesses through a temporary alternate size standard; and

* Offering inventory financing for eligible auto, RV, boat and other dealerships under the new Dealer Floor Plan Financing pilot program.

To learn about how SBA and the Recovery Act are helping small businesses succeed, go to: http://bit.ly/SuccessStoriesSBA.

SOURCE: U.S. Small Business Administration
____________________

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SBA Secures Funding to Extend Recovery Act Loans; Agency Plans to Restart Recovery Loan Approvals by Dec. 28

President Obama signed the U.S. Department of Defense [DOD] appropriations bill on Saturday [Dec. 19], which included $125 million to continue through Feb. 28, 2010 -- the enhancements made possible through the American Recovery and Reinvestment Act [ARRA] to SBA’s two largest loan programs. The SBA estimates the additional funding will support $4.5 billion in small-business lending.

New approvals of loans with the higher guarantee and reduced fees made possible by ARRA are expected to begin by Dec. 28. Loan applications from borrowers who chose to be placed in the SBA’s Recovery Loan Queue will be funded first, followed by new loan approvals beginning on or before Dec. 28.

“This Administration and Congress recognize that these key programs were successful in helping jump-start the economic recovery for America’s small businesses,” said SBA Administrator Karen Mills. “The increased guarantee and reduced fees on SBA loans helped put more than $16.5 billion in the hands of small-business owners and brought more than 1,200 lenders back to SBA loan programs. The extension of these programs through February is important to continuing our path toward recovery, and will mean that thousands more small-business owners have access to the credit they need.

“Just two weeks ago, President Obama laid out key aspects of his jobs plan -- including significant ongoing support for small businesses. We will continue to work with Congress on moving those proposals forward -- including extending these loan enhancements as the President has called for, to ensure that small-business owners have the tools they need to drive economic growth and create jobs in communities all across the country.”

As part of ARRA, SBA received $730 million -- which included $375 million to increase the SBA guarantee on 7[a] loans to 90 percent, and to waive borrower fees on most 7[a] and 504 loans. The funds for these programs were exhausted on Nov. 23.

SBA created the Recovery Loan Queue as part of its transition back to pre-ARRA lending on Nov. 23, because previously approved loans are sometimes canceled or never disbursed for a variety of reasons. Eligible small businesses, in consultation with their lender, could choose to be placed in the queue for possible approval of an ARRA loan if funding became available. Currently, there are 1,069 loans totaling almost $530 million in the Recovery Loan Queue.

The extension included in the DOD bill authorizes the higher guarantee levels through Feb. 28, 2010. The fee relief is authorized until this additional funding is exhausted or the end of the fiscal year, whichever comes first. As was the case in November, SBA will transition into a queue system as the funds start to wind down, in order to ensure the maximum simulative effect of the programs and disbursement of funds.

For non-ARRA 7[a] or 504 loans funded during the transition period, this extension does not provide a retroactive guarantee or waived fees. Loans that were funded under non-ARRA terms cannot be canceled and resubmitted to take advantage of the ARRA extension provisions.

This extension does not affect other SBA ARRA programs -- including the America’s Recovery Capital [ARC] Loan Program, or the agency’s microloans. ARRA funding still remains for both of those programs.

SOURCES: Library of Congress, Recovery.gov, U.S. Small Business Administration
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