The SBA approved $296,126,000 in SBA 7(a) loans for the week ending May 11. That compares with $301,126,000 for the prior week.
Last month, April, the SBA had approved $1,173,333,000 in SBA 7(a) loans.
For the quarter ending March 31, SBA had approved $3,311,521,000 in SBA 7(a) loans.
That compares with $3,443,723,000 in 7(a) loan approvals for the quarter ending December 31, 2011.
This drop of $132,202,000 in quarterly SBA 7(a) loan volume coincides with a decline of GDP growth for the first quarter of 2012 compared to the prior quarter.
The correlation of SBA 7(a) loan approvals with our nation's economic performance appears to be quite strong.