SBA-backed lending skyrockets since passage of Recovery Act

Changes under the American Recovery and Reinvestment Act to U.S. Small Business Administration loan programs have led to a rebound in SBA-backed loans for small businesses and greater access to capital, according to a news release.  In the eight months since the Recovery Act was signed into law, the SBA has "supported more than $11.3 billion in lending to small businesses through its two largest loan programs and seen its average weekly dollar volume increase by more than 60 percent in comparison to the weeks before the Recovery Act," the release says.  In San Bernardino, Riverside and Orange counties, SBA small business lending was up 102 percent in the fourth quarter compared with the second quarter of fiscal Year 2009, when the Recovery Act was first announced, according to the release.  Information: www.sba.gov