WASHINGTON, D.C.—The U.S. Small Business Administration (SBA) has unveiled two new initiatives to increase lending opportunities for small business owners in inner cities and underserved communities.

Under the two initiatives, known as the Small Loan Advantage and the Community Advantage, community banks will be able to offer loans of up to $250,000. Those loans, which are part of the agency’s 7(a) program, come with the government guarantee of 75 percent guarantee while anything under $150,000 comes with the 85 percent guarantee.

In the latest of a series of research reports, the Center for Responsible Lending (CRL) has found that payday loan customers remain indebted double the time that the Federal Deposit Insurance Corporation recommends.