Streamlining the Small Business Loan Process

The U.S. Small Business Association (SBA) recently announced two new loan programs it hopes will increase small business lending, particularly in underserved communities.  The Small Loan Advantage and Community Advantage programs will provide a streamlined application process for certain SBA 7(a) loans up to $250,000.  The goal is to provide these loans to businesses quickly; applications are two pages long and approval will be granted in less than 10 days.  The programs are expected to begin by March 15, 2011.