As of July 23rd, $11,026,658,000 in SBA 7(a) loans have been approved by SBA. While this is a significant increase over last year and is also above the levels of 2008, only $109,800,000 in new loans were approved last week. The current pace is well below historical levels as a result of the loss of recovery act provisions such as the increase guarantee of 90% and the SBA guarantee fee waiver.
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