The 16-day federal shutdown is over, which means that furloughed workers at the U.S. Small Business Administration and other agencies are coming back to work.
That’s especially good news for small companies who are applying for SBA-backed loans. Because of the shutdown, there was no one at the SBA to process the paperwork on new applications. As much as $100 million in loans per day may have been held up by the shutdown, an official with the National Association of Development Companies told The Coleman Report.
It’s not clear how long it will take the SBA to catch up with the backlog.
The good news about the shutdown is that Kansas City’s small business development centers and other SBA-backed resource providers were able to continue helping clients.
