SmallBusinessNewz

The US Small Business Administration says they are seeing signs of improved small business lending. Loan volume has increased over 25% compared to the weeks before President Obama signed the American Recovery and Reinvestment Act (ARRA) into law.

Since May 29th, the SBA has approved $3.15 billion in Recovery loans. It has also supported nearly $4.3 billion in lending to small businesses.

"We remain hopeful Nevada’s economic recovery will be evident soon," says John Scott, the SBA's Nevada District Director. "Experts say our unemployment and real estate indicators should start to improve in the coming months. That would signal the recovery is beginning to take hold here in Nevada."

"At SBA, we are using all the tools in our toolbox to help small businesses lead our nation’s economic recovery," says SBA Administrator Karen Mills. "Small businesses are getting the dollars they need, not only to keep the doors open and employees working, but also to grow and create jobs."

Starting June 15th, the SBA's new "America's Recovery Capital" program will provide loans of up to $35,000 to "viable, but struggling small businesses" to help them with debt. The SBA says the no-interest, deferred repayment loan will provide a "bridge" for many small businesses through these tough economic times.