SBA loan dollars reach second largest amount in program history

Filed under: Banking & Finance,Daily News,Small Business |

The U.S. Small Business Administration’s loan programs posted the second largest dollar volume ever in FY 2012, supporting $30.25 billion in loans to small businesses.

That amount was surpassed only by FY 2011, which was heavily boosted by the loan incentives under the Small Business Jobs Act of 2010.

In Colorado, the trend in SBA-backed lending followed the same pattern. SBA loan programs supported 1,293 loans for $558 million, slightly down form 2011 but up for 2010.

Overall, the pace of SBA loan-making is a healthy sign for the economy and the credit markets and is one of the foundations for ensuring the availability of financing to small businesses, SBA official said.

The near-record pace was driven in part by the Certified Development Company (504) loan program, which supported $15.09 billion in small business credits across the country. In Colorado, the 504 program supported $159 million in small business credits.

The strong performance of 504 loans was boosted by the temporary 504 refinancing program, which was responsible for 26 percent of the 504 program loans made in FY 2012 and 34 percent of the dollar volume. The recently expired 504 refinancing program was part of the incentive package under the Jobs Act.

“Reaching such strong numbers is a clear sign that both the business and lending communities are regaining their confidence in the economic climate of the country,” said SBA Administrator Karen Mills. “It means that the credit markets are increasingly willing to help small businesses establish themselves, grow and create new jobs for Americans.”

 

 

 

 

 

2 Responses to SBA loan dollars reach second largest amount in program history

  1. Just a bit of information that might be helpful to those who are interested in getting an SBA Loan. I have had quite a lot of success myself with this software program that prepares the sba loan package
    for the lender. It has lender connections and also a business plan maker included in it. It really does everything. If anyone is interested in it the site is: http://sbaeasy.com They also help
    you with the submittal and have unlimited assistance every step of the way. I highly recommend it. Hope that helps everyone to get the business loan they need for their plans…

    John Watson
    October 13, 2012 at 2:59 pm

  2. Just a bit of information that might be helpful to those who are interested in getting an SBA Loan. I have had quite a lot of success myself with this software program that prepares the sba loan package for the lender. It has lender connections and also a business plan maker included in it. It really does everything. If anyone is interested in it the site is: http://sbaeasy.com They also help you with the submittal and have unlimited assistance every step of the way. I highly recommend it. Hope that helps everyone to get the business loan they need for their plans…

    John Watson
    October 19, 2012 at 9:58 pm