WASHINGTON, D.C. – U.S. Senator Angus King today welcomed an announcement by the U.S. Small Business Administration (SBA) that small businesses throughout Maine have improved access to capital and technical assistance through SBA lending programs.

According to the Small Business Administration, Fiscal Year 2013 saw more than $110 million dollars injected into small businesses through 422 loans approved using the Administration’s loan guarantee and microloan programs, which represents an increase of 24 percent in loan dollars compared to the past fiscal year and an 18 percent increase in total number of loans.

“Small businesses across Maine and America are the driving force behind our economy and its continued recovery, and it’s critical that they have access to the financial capital and other vital resources that will help them to grow and be successful,” Senator King said. “The SBA’s announcement today demonstrates that Maine is setting the gold-standard for lending, and now Congress must do its part to help small businesses by giving them, and entrepreneurs across the country, a sense of financial certainty and stability that can only come with passing a long-term budget.”

The capital provided through SBA loans goes directly into the hands of small businesses that are saving and creating jobs each day.   The loans are used to provide working capital, financing for new equipment purchases, business acquisitions and real estate purchases. To learn about current SBA loan programs and for a listing of participating lenders in Maine visit www.sba.gov/me  or call 207-622-8551.

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