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WASHINGTON - Congress is ready to pour additional money into small-business loans, development centers and technical assistance for needy entrepreneurs.
Last week, the Senate Small Business Committee approved a small business reauthorization bill for the next three years that bulks up the Small Business Administration's popular 7(a) program by almost $3 billion to $13 billion, and doubles the microloan program to $100 million.
The committee action comes months after SBA put forward its own proposal that called for an increase in the 7(a) program, microloan program and the small business investment company program.
"I think we have authorized enough money to …