SBA 7(a) loan volume remains fairly robust as $306,612,000 in SBA 7(a) loans were approved for the week ending July 15th. That brings the year to date total to $16,153,832,000.
Two years ago only $6,431,361,000 in SBA 7(a) loans had been approved through the same period.
Loan demand jumped since then thanks to legislative enhancements that have since expired. Current loan demand is driven by both borrowers and lenders realizing that the 7(a) program is one of the most viable options out there.