US govt to help smaller firms

The Obama administration will allow about 70,000 more firms to apply for small business loans guaranteed by the government by temporarily raising size limits for the program, government officials said.

The move will provide particular relief to auto and recreational vehicle dealers and suppliers, which were often too big to qualify for such loans.

The temporary size increase under the Small Business Administration's 7(a) loan program starts this week and will expire on Sept 30, 2010.