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When Government Backs Your Business Loan

September 17, 2011 /

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Amid tougher lending standards and riskier times, a growing number of small-business borrowers are seeking federal government loan guarantees to loosen the purse strings at their local bank, according to SmartMoney’s latest Take Two profile of 50-plus entrepreneurs.

With several weeks left in the fiscal year, the Small Business Administration’s two main lending programs have already surpassed a record-high $18 billion in guaranteed loans issued through banks and other conventional lenders, agency data show. That’s more than double the full-year total in 2009.

Depending on size, SBA loans are guaranteed for up to 85% against default.

By Angus Loten

Full Story: http://blogs.wsj.com/in-charge/2011/09/16/when-government-backs-your-business-loan/

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Montana District SBA Office Serving the State of Montana http://www.sba.gov/about-offices-content/3/3126

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