SBA loans are good for the economy

SBA lenders and borrowers took a break over the Fourth of July as only $208,042,000 in SBA 7(a) loans were approved for the week ending July 5^th.

Despite this respite, SBA 7(a) loan volume is up over 16% from the same period last year.

This up-tick in loan volume bodes well for the economy.

Remember, 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.