Feds left holding record defaults in small-business loans

07/26/2009 | Google

The U.S. government last year ended up with a record $2.1 billion in write-offs of federally guaranteed small-business loans, according to an Associated Press investigation resulting from data it received through the Freedom of Information Act. Experts expect more small businesses to default this year as they continue to struggle while the government bails out big banks.

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