SBA 7(a) loan volume picked up for the month ending June 30. Approvals totaled $1,513,305,000. That is an increase over the $1,352,404,000 approved for May.
SBA 7(a) approvals for the quarter totaled $4,039,042,000, a nice pick up from the prior quarter.
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.
The correlation of SBA 7(a) loan approvals with our nation's economic performance appears to be quite strong.
Just for fun I calculated the correlation coefficient between SBA 7(a) loan volume and GDP for six years using the Microsoft CORREL function. It came out to a statistically significant 0.86.
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