North Bay Business Journal

Both the number of loans and the total value of loans facilitated through the U.S. Small Business Administration’s 504 program decreased across the North Bay in fiscal year 2011, though lenders said levels reflected that some businesses are still expanding during the recessionary period.

Lenders are praising recent tweaks to the new U.S. Small Business Administration 504 refinance program, saying that the changes make more small businesses eligible while simplifying the process for institutions.