Small Business Lending Improves—in Time for the Next Government ShutdownBy
The government shutdown threw a wrench into U.S. Small Business Administration lending programs, which have provided government guarantees on about $30 billion in loans in each of the last three years. Because the loans require approval from furloughed agency personnel, many loans couldn’t be funded during the shutdown, which lasted nearly three weeks. SBA loan volumes in the first four weeks of October were down 35 percent from the previous year, according to a report published on Tuesday by Experian and Moody’s Analytics. The good news, according to the report, is that agency is on track to make up its lost ground by the end of the year.
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