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Released: July 26, 2011
Do your homework before applying for SBA loans
Source: Cyndia Zwahlen, L.A.Times (Free Registration)
Even though the recession has been officially over for some time, getting a small-business loan hasn't gotten any easier. In fact, fewer loans backed by the federal Small Business Administration were made during the first half of this year than during the same period in 2010. In Southern California, the amount lent in this type of loan declined 7% to $922 million in the period that ended June 30, compared with $988 million a year earlier. That's more than double the 3% decline nationwide. The decline was partly because of the end in January of a federal incentive program that had pumped up guarantees for lending institutions. So, what's the best way to get a small-business loan in this economic environment?Read Full Article: Do your homework before applying for SBA loans
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