I swear there is economic doom and gloom lurking in every crevice of American small business today. Fuel prices are crushing the manufacturing sector. Healthcare costs are becoming unbearable for micro-businesses (10 or fewer employees). Just being able to turn a profit is increasing in difficulty.

Well, step back from that ledge my friend. Here’s a piece of promising news. The Small Business Administration’s Office of Advocacy released a report Friday citing that small business loans increased from June 2006 to June 2007. It might not be the economic turnaround you were hoping for, but at least it’s positive. Loans valued between $100,000 and $1 million increased by nearly 32 percent. That’s pretty awesome. Loans of less than $100,000 only increased by 9.4 percent, but hey, that’s still a fairly significant increase.

Small business loans are nice because unlike venture capital you get to remain in the driver’s seat of your own company and don’t have to answer to investors. They also allow you to build up your credit, making you look good to future lenders. So if you’re in the market for some small business financing, which I know many of you are, small business loans might be the place to start.

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