Monday, August 2, 2010

SBA 7(a) Weekly Lending Update

Through 7/31/2010, $11,152,436,000 in SBA 7(a) loans have been approved. This is only a $125,778,000 increase over the prior week. If annualized that works out to about a six and a half billion dollar annual pace. That well below the seven billion dollars lent out during the 2009 fiscal year.

What's going on? Lenders are waiting to see what happens with the extension of Recovery Act stimulus provisions such as the 90 percent guarantee and the guarantee fee waiver.

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