$291,446,000 in SBA 7(a) loans were approved for the week ending May 31st.
For the one month period ending May 31st, SBA 7(a) loan approvals totaled $1,484,588.
This compares favorably to the month of April, when $1,353,386,000 in SBA 7(a) loans were approved.
This puts us on pace to beat the 1st quarter of 2013 when SBA 7(a) loan approvals totaled $4,049,146,000.
SBA 7(a) loan volume is a leading economic indicator as the correlation coefficient between SBA 7(a) loan volume and GDP is a statistically significant 0.86.