More Than 5,000 Small Business Loans Approved in First Month After Jobs Bill

Just one month after the President signed the Small Business Jobs Act, the U.S. Small Business Administration has supported nearly $3 billion in loans to more than 5,000 small businesses across the country. The White House estimates that the $505 million provided in the Jobs Act will support about $14 billion in small business loans. The Jobs Act also includes $12 billion in tax credits targeted specifically to small businesses and a $30-billion lending fund that will help small, community banks increase their lending to local small business owners and entrepreneurs.