SBA Loans Are Good For the Economy

SBA 7(a) loan volume for month of December ended up at $1,806,928,000.  That’s a nice jump from November’s $1,303,555,000 in SBA 7(a) loan approvals.

It was not enough however to shake off the dip in activity caused the shutdown of the government in October.  

SBA 7(a) loan volume for the quarter ending December 31, 2013 was $3,989,696,000.  

Fourth quarter SBA 7(a) loan approvals ended up being the lowest since the first quarter of 2012.

Here is a breakdown of SBA 7(a) quarterly loan volume for the last two years:

4^th quarter 2013:             $3,989,696,000

3^rd quarter 2013:             $5,371,662,000

2^nd quarter 2013              $4,273,683,000

1^st quarter 2013               $4,049,146,000

4^TH quarter 2012             $4,173,790,000

3^rd quarter 2012              $4,359,166,000

2^nd quarter 2012              $4,039,042,000

1^st quarter 2012                 $3,443,723,000

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.