On April 15th President Barack Obama signed legislation providing $80 million in additional funding to continue important enhancements in the U.S. Small Business Administration’s two key small business loan programs. The enhancements, first made available under the American Recovery and Reinvestment Act in February 2009 and extended in March 2010, include a higher guarantee on some SBA backed loans and small business fee relief. The SBA estimates the $80 million will support about $2.8 billion in small business lending under the 7(a) and 504 programs.
