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SBA Loan Volume Surpassing Pre-Recession Levels

May 08, 2013, 06:57 AM
Filed Under: SBA Lending News reported the Small Business Administration has backed more small business loans thus far in 2013 compared with the same period in 2012. According to the article, as of May 4, the SBA had approved about 26,000 loans through its 7(a) program, compared to about 25,000 last fiscal year.
In addition, the report indicates SBA loan dollar volume this fiscal year has surpassed pre-recession levels. As of April 19, the SBA had approved more than $9.4 billion in 7(a) loans for this fiscal year — an increase from the $7.2 billion it had guaranteed at this point in fiscal year 2008. Businesses use 7(a) loans to expand, purchase fixed assets and finance working capital.
However, the CFO report cites that the dollar amount of SBA-guaranteed 7(a) loans this year is still much lower than it was 2011, when the SBA approved $13.2 billion in 7(a) loans. 
According to the article, the SBA is also backing larger loans than it has over the last few years.

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