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| Small business lending begins to rebound |
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| Tuesday, 05 January 2010 15:23 | |||
Small business lending begins to reboundNEW YORK (CNNMoney.com) -- Small businesses are still struggling to find financing, but for those seeking government-backed loans, the worst may be over. The Small Business Administration's flagship lending program backed 37% more loans in its latest quarter than it did a year ago, at the height of the financial crisis. In the three months ended Dec. 31, the SBA's 7(a) lending program processed 12,393 loans totaling $3.8 billion, according to preliminary data released Monday by the agency. That's a sharp increase from the 9,070 loans, totaling $1.9 billion, processed in the year-earlier quarter. By Catherine Clifford, staff reporter January 4, 2010: 4:22 PM ET Free Report: 5 Steps to Get Your Business Loan
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