SBA 7(a) loan volume faded just a bit for the month of July as $1,385,753 in SBA 7(a) loans were approved.
In June SBA had approved $1,435,709 in 7(a) loans while for the one month period ending May 31st, SBA 7(a) loan approvals totaled $1,484,588. In April $1,353,386,000 in SBA 7(a) loans were approved.
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.
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