Small Business Jobs Act Means Big Opportunities Notes Expert from Leading Small Business Lender CapitalSource

CHEVY CHASE, Md.--(BUSINESS WIRE)--Despite the government’s allocation of stimulus money through the Small Business Administration (SBA), America’s small businesses have found it difficult to get enough credit. But that is expected to change today when President Obama signs into law the Small Business Jobs Act.

“This is a very big deal for small businesses—and for small business lenders,” said George Harrop, the managing director of CapitalSource’s Small Business Lending group. “The biggest change is the increase in loan size. SBA 7(a) loans are permanently increased from $2 million to $5 million, and SBA 504 loans can now go up to a total loan amount of $12 million. This is particularly important for larger small businesses that were too big for SBA programs, but too small for Wall Street institutional lenders.”

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