SBA 7(a) loan volume continues to pick up the pace as another $378,585,000 in SBA 7(a) loans were approved for the one week ending May 24th. That's a nice pick up from last week's pace of just over $299,139,000.
If you think the economy might be gathering some steam right now, you might be right. 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.