Small business jobs act of 2010

o The law will extend SBA Recovery loans (with the 90% guarantee and reduced fees) through December 31, 2010. The $505 million for Recovery loans in this new law will support about $14 billion in overall small business lending. More than 1,400 small businesses that have been in a queue waiting for this bill to become law will be funded in a matter of days. o Since passage of the Recovery Act, SBA has supported nearly 70,000 Recovery loans, turning $680 million in taxpayer dollars into more than $30 billion in lending support.