Wall Street Journal; By Raymund Flandez
It’s finally happening. Efforts to get money to capital-strapped small businesses are beginning to work, as banks have returned to making loans backed by the federal government, says Karen Gordon Mills, the new Small Business Administration head.
More than 10,000 Recovery Act loans have been approved, which represents about $3 billion in credit supporting small businesses, she said in her testimony at a Senate hearing Wednesday. The hearing was about the small business provisions of the American Recovery and Reinvestment Act, which was enacted in February.
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