SBA loan activity is robust.
The SBA approved $299,139,000 in SBA 7(a) loans for the week ending May 17th.
This is a 20% increase over last year.
The correlation of SBA 7(a) loan approvals with our nation's economic performance is 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.
This should be taken as a positive leading economic indicator.