SBA loan guarantees again run out of funding

05/26/2010 | American City Business Journals

If you're planning to apply for a small-business loan backed by a 90% Small Business Administration guarantee, get ready to wait. The agency said Wednesday that it is wait-listing applicants after running out of federal stimulus dollars used to back the loans. Administrator Karen Mills credited the program with a "significant turnaround in SBA lending," and urged Congress to pass a fifth extension.

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