Wednesday, April 23, 2014
SBA Loans Are Good for the Economy
SBA lenders and borrowers must have taken off for Spring break as only $316,934,000 in SBA 7(a) loans were approved for the week ending April 18th.
That's a drop from the prior week's SBA 7(a) loan approvals totaling $371,645,000.
Month to date SBA 7(a) loan approvals are at $984,798,000.
With a week and a half to go to end the month, it will be hard to beat March's SBA 7(a) approvals of $1,590,460,000.
Keep in mind that the correlation coefficient between SBA 7(a) loan approvals and the Gross Domestic Product is a statistically significant 0.86.