April 1st, 2010
07:45 PM ET

SBA small biz lending doubles

The lending market for Main Street remains pretty jammed up, but one segment of the credit landscape is recovering thanks to stimulus efforts.

The Small Business Administration's flagship lending program backed twice as many loans in the past three months as it did in the year ago period.

In the SBA's second fiscal quarter, which ended Wednesday, the government's 7(a) lending program processed 16,558 loans. That is more than double the 8,205 loans it backed in the first three months of 2009, according to preliminary data the agency released Thursday.

In total, the SBA 7(a) program lent out $3.7 billion, more than double the $1.6 billion processed in the year-earlier quarter.

Read the full CNNMoney.com story

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