SBA Loan Program disappoints again

disappointment-valleyDespite all the recent publicity about the SBA’s “helping hand” to small business, recent reports tell another story. Loan volume in dollars is down $3.6 billion, around 27%, and 25,000 fewer businesses have been served this year. Pretty woeful record when programs to support Wall St. and the banking industry got delivered virtually overnight … and at least HALF of this nation’s jobs are in small businesses.

Seems a lot like the stimulus package hyped earlier this year … more smoke than fire, too much bureaucracy, slow execution …. Another frayed lifeline for small businesses which are the backbone of job recovery.

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