Thursday, August 26, 2010

SBA 7(a) Weekly Lending Update

For the week ending August 20th, only $168,622,000 in SBA 7(a) loans were approved.

The drastic drop in volume can be attributed to the expiration of the 90 percent guarantee which expired at the end of May.

Legislation to end the increased guarantee through the end of the year will be voted on September 14th.

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