SBA Announces Initiatives To Increase Lending in Underserved Communities | The Network Journal

SBA Announces Initiatives To Increase Lending in Underserved Communities | The Network Journal: "The U.S. Small Business Administration this week announced two new initiatives aimed at increasing SBA-backed loans to small businesses in traditionally underserved communities.

The initiatives – Small Loan Advantage and Community Advantage – are to be implemented by March15, 2011. They will expand the number of loans going to small businesses and entrepreneurs in underserved communities under the agency’s popular 7(a) program. Such loans can be used for a variety of general business purposes, including working capital and purchases of equipment and real estate."