SBA program will get $3 billion support from government

The government plans to guarantee $3 billion in loans this year for the Small Business Administration's 504 program, which is meant to help small businesses buy buildings or equipment at a low rate subsidized by the government. Banks fund only half of the loan, with the government guaranteeing 80% of a bank's portion. "Private banks can now get some sort of guarantee indirectly from the SBA," said the agency's Rachel Baranick.

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Orange County Business Journal (Irvine, Calif.)