A little over a week after the Small Business bill was signed into law by President Obama, $969 million has been given out in loans. Almost all of these were for businesses that had been waiting since the 2009 Recovery Act ran out in May.

According to the S.B.A., 1,939 loans entered the queue. Of these, 1,273 loans for $586 million were approved with new money. At the same time, an additional 666 loans totaling $383 million that were financed by previous appropriations (made available only after other loans that had been approved ultimately were canceled) also received final approval. These were mostly 504 loans made without borrower fees, according to an S.B.A. spokeswoman, Hayley Matz

Now that the queue is clear the Small Business Administration can focus on loaning the estimated $14 billion it has earmarked to new applicants. Many in the tanning business community have been struggling to secure financing this past year and this is a potential sign that loans might be easier to find.

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