SBA 7(a) loan volume continues to pick up the pace as another $375,246,000 in SBA 7(a) loans were approved for the one week ending April 26th. That's a nice pick up from last week's pace of just over $293,840,000.
For the month of April, $1,353,386,000 in SBA 7(a) loans were approved.
For those of you fretting about the economy stalling right now, keep in mind that 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 over six years using the Microsoft CORREL function. It came out to a statistically significant 0.86.
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