Tuesday, September 24, 2013

SBA Loans Are Good For the Economy

SBA 7(a) loan approvals for the week ending September 20th totaled $462,159,000.

That brings the month to date total to $1,053,032,000.  So far for the third quarter of 2013, $4,004,903,000 in SBA 7(a) loans have been approved.

With over a week to go before the quarter ends, it appears that third quarter SBA 7(a) loan approvals will exceed second quarter SBA 7(a) loan approvals.

Second quarter SBA 7(a) loan approvals totaled $4,273,683,000, reversing an almost year long decline in SBA 7(a) loan approvals.

This favorable trend in SBA 7(a) loan volume bodes well for the economy.

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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