Obama extends $1.8 Billion in SBA Small Business Loans

The Obama administration extended an additional $1.8 billion in SBA backed small business loans. The initial program was for $750 million and helped stimulate small businesses by guaranteeing 90% of the funding and by waiving application fees.  The stimulus was depleted by November 23rd.  In December the government extended another $125 million which lasted until February.

New applications will resume on March 10th, whereby already existing applicants in the SBA queue will be approved and then subsequently the new applications