Tuesday, April 26, 2011

SBA 7(a) Weekly Lending Update

SBA approved $205,494,000 in SBA 7(a) loans for the week ending April 22.  Year to date total is now up to $12,928,981,000.

This is a slight drop from last week and a big drop from the week prior to that when volume had spiked to $568 million.  That spike was obviously a result of lenders submitting as many deals as they possibly could before the SBA may have shut down.

With the threat of a shutdown now behind us, the challenge will be if the SBA 7(a) program runs out of money before the end of the fiscal year on September 30th.

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