The Small Business Administration (SBA) has implemented only two of the eight provisions included in the economic stimulus bill that were designed to boost lending to small firms, the Atlanta Business Chronicle reported.

The two provisions that have been implemented thus far include eliminating the fees on the agency’s 7(a) and 504 loans and increasing the maximum government guarantee on a 7(a) loan from 85 percent to 90 percent. As a result, the agency said it is approving 28 percent more loans each week than it was prior to the two provisions being implemented.

“We feel encouraged by these types of numbers,” said SBA spokesman Michael Stamler.

However, despite the recent spike in loan approvals, year-to-date lending remains far below year-ago levels. Through April 17, the number of 7(a) loans was down 55 percent, and 504 loans, which are used to finance real estate and other fixed assets, were down 47 percent.

The agency had said earlier that it planned to implement two additional programs in March that would help revive the secondary market, but now says the programs will not roll out until June. The agency said the delay is due in part because programs such as these are complicated and time-consuming.

The SBA also missed the deadline for its new temporary loan program, which was supposed to provide up to $35,000 to small businesses that are having troubles paying on existing loans. Stamler said these “business stabilization” loans should become available sometime in May.