SBA Lending Rises but Small Business Owners Still Struggle to Find Funds

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According to an article published on CNN Money, although small business owners are still struggling to find business financing, the supplying of SBA-backed loans has increased since the nadir of the recession.  “The Small Business Administration’s flagship lending program backed 37% more loans in its latest quarter than it did a year ago, at the height of the financial crisis,” wrote Catherine Clifford.

Based on agency-released information, from the end of September to the end of December 2009, the Small Business Administration processed 12,393 loans, totaling $3.8 billion, through its 7(a) lending program.  A year earlier, the administration only processed, 9,070 loans, totaling $1.9 billion, through the same program.

These numbers may seem like a big improvement, but the truth is, it is only one lending program through one agency.   What about all of the banks that don’t offer SBA-backed loans?  What about the other lending programs that the Small Business Administration offers?  When are we going to see an increase in these?  It seems that merchant cash advance providers are of the only business funding providers that are seriously aiming to make business funds available to U.S. small business owners.

If you are one of the numerous small business owners who does not qualify for an SBA-backed loan, don’t hesitate to take advantage of the merchant cash advance and get up to $500,000 in business funds.