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Record demand continues for government-backed small business loans.(Communique)(Brief Article)
The U.S. Small Business Administration reported that since the start of the fiscal year, during the period of October 1 through October 22, the agency approved a total of 6,215 loans for a total dollar amount of $1.036 billion in its flagship 7(a) loan guarantee program. Net of carry-over loan applications received before October 1, the SBA approved 4,669 loans for $659 million. That compares to 4,205 loans approved for just under $644 million for the same period last fiscal year.
The increase in loan volume indicates that the small increase in fees in October to the levels ...
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