SBA 7(a) Weekly Lending Update- SBA loans fall off the cliff

As of June 25, 2010, the SBA has approved $10,501,889,000 in SBA 7(a) loans. This is only $182,711,000 in loans over the last two weeks. This is a pace slower than the dark days of 2009 when SBA 7(a) lending came almost to a standstill.

What has happened? Lenders are waiting for the 90% guaranty and guaranty fee waiver to come back.