Small Business Loan Lending Continues to Decline

Small business loan lending continued to decline in Milwaukee as the Small Business Loan Administration only approved $9.1 million, which is down from 29 percent from $12.7 million in August 2009. The number of loans is down almost by more than 40% from last year.

This past spring, the SBA ran out of funding for a stimulus package that eliminated and reduced many of the fees incurred, and increased guarantees to 90% for most small business administration loans.

A new stimulus package, The Small Business Jobs Act, passed the Senate this past Tuesday and will provide local banks up to $30 billion for expanding small business administration loan programs.

To Apply for a Small Business Loan