SBA Sets New Small Business Lending Records
During FY 2016, 7(a) loan program reaches more than $24.12 billion nationally, $68.5 million in SBA Alaska District; 504 loan total grows for third consecutive year; minority lending reaches $8.65 billion
ANCHORAGE, Alaska – The U.S. Small Business Administration (SBA) announced Fiscal Year 2016 (FY 2016) lending numbers this week showing record levels of small business lending through the 7(a) and 504 loan programs, as well as significant increases in lending to women, veterans and underserved communities.
“Access to capital is critical to a small business’ success. The SBA Loan Guarantee Program helps small businesses in our community keep their shelves stocked, keep their employees paid and keep their doors open,” SBA Regional Administrator Calvin Goings said. “Through resources like SBA LINC and local ‘meet the lenders’ events, the SBA connects local business owners with financing partners in their area.”
The following outlines national loan numbers and trends along with local lending highlights for the SBA Alaska District.
Nationally, the SBA approved more than 70,000 loans in the 7(a) and 504 loan programs during FY 2016. These programs provided nearly $28.9 billion to small businesses and supported nearly 694,000 jobs.