The Small Business Administration has announced an all new “Small Loan Advantage and Community Advantage Loan Initiatives”  program.

From the website: “SBA is committed to expanding access to capital for small businesses and entrepreneurs in under-served communities so that we can drive economic growth and job creation.”

The new initiatives promise a smaller application process and faster turn around – from a few minutes to a few days, for SBA 7(a) loans up to $250,000.

Read all the details on

The new programs should be live on or around March 15, 2011.

‘Chelle Parmele