SBA proposes higher funding, lower loan authority in 2013

02/19/2012 | Entrepreneur online

The Small Business Administration is seeking a 20% increase in its budget for fiscal 2013, for a total of $1.1 billion. Meanwhile, the agency has proposed to reduce by $3 billion its authority to back loans for small businesses. The SBA says it needs more money for loan subsidies because of elevated loan risks. The lower authority for guaranteed loans likely comes as certain stimulus measures expire, making the loans less attractive for lenders and borrowers, one analyst said.

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