Friday, March 18, 2011

SBA 7(a) Weekly Lending Update

For the week ending March 11th, the SBA approved $254,170,000 in SBA 7(a) loans.

The new $5,000,000 loan size is having an impact on loan volume.

While January volume was off somewhat in January following the Jobs Act funding expiration in December, loan volume has since increased. February approvals were around $50 million per business day, and March numbers are closer to $75 million per day.

There is a distinct possibility that we will see loan demand in excess of the authorized level for this fiscal year.

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