So the year has finally come to an end.  Thank the Lord.  What a year ah?  I think back to January and all that has happened in 12 months, it’s just been crazy.  As far as business loans go, I would like to think we should all be excited.  As an entrepreneur I have to be optimistic and say things are going to be looking up.  2009 is behind us, some of the larger banks have pledged billions of dollars in business lending, the government is going to extend their recovery program till the end of February, and according to the Federal Reserve, demand for small business loans is up.  Regarding the SBA and government money, the SBA came out with a press release this week expressing to the small business community that President Obama signed a bill yesterday that included $125 Million to the SBA and should support up to about $4.5 Billion in business loans until the end of February. 

These funds are going to be allocated to raising the guarantee on the two main government programs, the 7(a) loan program and the 504 commercial loan program.  The funds will also be used for lowering the fees the borrowers have to pay the banks.  Since the recovery act, there has been $16.5 billion put into the hands of small businesses and has attracted over 1,200 banks to return to the SBA lending programs.  Thats not bad considering banks were falling off the map daily about one year ago.  As far as non government loans, I thinks banks have to start lending to make any money.  Not only did the Federal Reserve say demand for business loans was going up but that criteria’s from tha banks are coming down.  One of the largest sectors that I have seen today as far as business lending is the private money sector.  You have all of these independently wealthy individuals or organisations that are saying to themselves, if the banks aren’t going to lend to small businesses, then I’m going to. 

These small private guys are making a killing right now in small loans to good quality businesses.  If you turn on the radio, or the T.V, or look in any paper, the entire country is talking about access to capital for small businesses.  One great thing about our country is if you say the recession is over enough times, people are going to start believing it.

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