Thursday, August 21, 2014

SBA Loans Are Good For the Economy

$1,832,552,000 in SBA 7(a) loans were approved during the month of June.  

That makes it three straight quarters of steadily improving SBA 7(a) loan volume:

2nd quarter 2014:            $5,203,700,000
1st quarter 2014:              $4,106,960,000
4th quarter 2013:             $3,989,696,000
3rd quarter 2013:             $5,371,662,000
2nd quarter 2013              $4,273,683,000
1st quarter 2013               $4,049,146,000

Second loan volume has jumped significantly from the prior quarter.

The correlation of SBA 7(a) loan approvals with our nation's economic performance appears to be quite strong.  Just for fun I calculated the correlation coefficient between SBA 7(a) loan volume and GDP for over six years using the Microsoft CORREL function. 

It came out to a statistically significant 0.86.

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