Micro business loans under $100,000 were down 2.9% during the first quarter, according to the U.S. Small Business Administration.

Total small business loans outstanding dropped 2.4% from $624.3 billion in December 2010 to $609.4 billion in March 2011, the SBA’s Office of Economic Research of the Office of Advocacy reported in its Quarterly Lending Bulletin. Macro business loans, defined as those between $100,000 to $1 million, declined by 2.2%.

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