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Washington, D.C. - The Obama administration will allow about 70,000 more firms to apply for small business loans guaranteed by the government by temporarily raising size limits for the program, government officials said on Friday. The temporary size increase under the Small Business Administration's 7(a) loan program starts next week and will expire on September 30, 2010.

The SBA's main loan program for small business limits the size of business by revenues for each industry category. The temporary standards will allow larger firms in retail, construction and other sectors to apply for small business loans.

"We have seen signs that small businesses that are just outside the traditional 7(a) size standard are being shut out of the conventional lending market," says SBA Administrator Karen Mills. "This temporary change will help those businesses weather these tough times and help move our nation closer to economic recovery."

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