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SBA non-performing loan rate hits 12 percent
More than $18 million, or about 12 percent, of the loans guaranteed by North Florida's Small Business Administration were delinquent or in liquidation on Nov. 30, 1990.
By comparison, Florida's commercial banks reported 2.7 percent in non-performing loans, according to Sheshunoff Information Services, a company that specializes in tracking the performance of financial institutions. This percentage of problem loans is a 31.2 percent increase over the previous year.
The SBA's troubled loans historically fall into the 10 percent to 12 percent range, said Thomas Short, district director. The northern district, with headquarters in Jacksonville, operates in 43 counties, including Orange County.