Problems Spring Up in Small-Business Loans

By MARSHALL ECKBLAD

NEW YORK -- The crumbling condition of small business loans is threatening to hamstring the recovery of the U.S. economy, and tag banks with rising losses over the coming year.

The U.S. government's Small Business Administration said losses from loans made through its lending programs more than doubled in 2008, reaching nearly $1.3 billion. In 2007, the SBA charged off -- or took permanent losses against -- $504 million of the loans; in 2005, it charged off a much smaller $276 million.

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