Stimulus-backed microloans help some small businesses hire, expand

08/29/2010 | Los Angeles Times (tiered subscription model)

Some lenders and small-business borrowers say a $56.1 million stimulus program to provide microloans to small businesses has helped boost expansion and hiring. Brent Baker borrowed $50,000 under the Small Business Administration program and says it helped him hire 10 people for his company, Tri-State Biodiesel. "It shows how a relatively small amount of credit can be such a huge advantage, and we really did create jobs," said Baker.

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