The SBA approved $295,258,000 in SBA 7(a) loans for the week ending May 3rd. This is a 20% increase over the same year to date period last year, an increase of over $1,645,172,000.
This is positive news since the 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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