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Stimulus money aids 186 small businesses in W.Va.

Feb. 01, 2010 @ 09:08 AM

CHARLESTON — Federal stimulus money has put $33.9 million into the hands of 186 small businesses across West Virginia.

Judy McCauley, the Small Business Administration's West Virginia director, said lenders are taking advantage of the federal agency's resources.

During the last three months of 2009, the number of SBA loans increased 79 percent compared to the last three months of 2008. She also said loan volume jumped from $2.3 million to $10.7 million.

SBA loans are available to startup and existing businesses with 500 or fewer employees.

The 121,000 small businesses across the state make up 96 percent of all employers in West Virginia.

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