SBA targets loan effort at low-income areas.(US Small Business Administration)(Brief Article)

The Small Business Administration will expand a pilot program that offers technical assistance as well as loans to companies in low-income areas.

The Community Express loan program started with nine banks in 20 locations but will be expanded to as many as 500 lenders around the nation. Members of the National Community Reinvestment Coalition, an association of 680 community development and advocacy groups, will provide training and support to borrowers, both before and after the loans dose. Since the pilot program began in June 1999, participating lenders have made 110 loans totaling about $11.1 million. Minority-owned businesses have received two-thirds of the loans. …