SBA Books Third Highest Lending Year in 2013, Continuing Trend
In a trend that started in 2011, the U.S Small Business Administration (SBA) announced in a statement at the end of October that it had its third highest year of lending in FY 2013 with $29 billion lent to small businesses. The last two biggest lending years for the SBA immediately preceded this one. In FY 2011 and 2012 the agency lent more than $30 billion, its two highest years so far.
“During the fiscal year, which ended Sept. 30, SBA loan approvals supported $29.6 billion (54,106 loans) to small businesses in its two main loan programs, 7(a) and 504, compared to $30.25 billion (53,848 loans) in FY 2012 and $30.5 billion (61,689 loans) in FY 2011,” the SBA statement said.
Liberty SBF is an SBA lender focusing on 504 and 7a loans. To learn more about our loan programs click here.