The Small Business Administration’s flagship lending program backed twice as many loans in the past three months as it did a year ago during the same time period.

In the second quarter, the lending program processed 16,558 loans, more than doubling the loans offered in the same time period in 2009.  Overall in 2010 the SBA has lent out $3.7 billion.

For those considering starting a business or buying a business for sale, now is the time!

If you have a small business loan from CITI Bank, you are likely to see that loan show up on your PERSONAL credit report. But not to worry, according to Sharon O’Connor Clarke, a principal consultant with FICO, “Business owners generally won’t see their credit hurt if they’re current on payments. Borrowers with strong repayment histories could even see scores improve” This doesn’t mean for the sake of improving your personal credit you start taking out business loans but it does mean even though banks are changing the rules of the game, for now, you don’t have to worry.