Friday, January 27, 2012

SBA 7(a) Weekly Lending Update

SBA ended its first calender quarter with $3,443,723,000 in approvals for the SBA 7(a) loan program.  If you annualized that pace, it would end up way off from the record setting $19,637,889,000 in SBA 7(a) loan approvals for the fiscal year ending 9/30/11.

Right now loan approvals are averaging about $191,873,000 a week.  Last year it was well in excess of $300,000,000 per week.

That means funding is readily available for borrowers.

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