February ended with SBA 7(a) loan approvals totaling $392,982,000 for the last week of the month. This is nice bump up from the $280,012,000 in SBA 7(a) loans for the week ending February 21th and the $302,053,000 in SBA 7(a) loan approvals for the prior week.
Total SBA 7(a) loan approvals for the entire month were $1,323,495,000 in February compared to January's $1,193,005.
Keep in mind that the correlation coefficient between SBA 7(a) loan approvals and our economy's Gross Domestic Product is a statistically significant 0.86.
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