SBA 7(a) lending has recovered from its summer doldrums.
$371,108,000 in SBA 7(a) loans were approved for the week ending July 26th. This is a 23 percent increase over the prior week's approvals. So far year to date, SBA 7(a) loan approvals are up just over 14 percent from the prior year period.
This bodes well for the economy as the correlation coefficient between SBA 7(a) loans and GDP is a statistically significant 0.86!