Wednesday, May 4, 2011

SBA 7(a) Weekly Lending Update

Is the SBA 7(a) loan program going to run out of money?

Another $234,146,000 in SBA 7(a) loans were approved during the week ending April 29th.  That brings the year to date total to $13,163,127,000.   A total of $17,500,000,000 in SBA 7(a) loans are authorized for the fiscal year which ends September 30th.  

That leaves us with $4,336,873,000 remaining.  With 21 weeks left in the fiscal year loan approvals need to average $206,517,760 per week or the SBA runs out of money.

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