$1,023,395,000 in SBA 7(a) loans were approved last week by SBA.
A billion dollars in one week is an amazing pace. Clearly lenders and borrowers are sending in everything they can right now to take advantage of the increased guarantee and guarantee fee waiver.
So far this fiscal year, which began October 1st, SBA has approved $5,072,834,000 in SBA 7(a) loans.
SBA recently provided an information notice telling lenders that a loan has be approved by year end to take advantage of the increased guarantee and guarantee fee waiver.