Tuesday, August 26, 2014

SBA Loans Are Good For the Economy

The third quarter got off to a slightly slower start as $1,696,438,000 in SBA 7(a) loans were approved in the month of July.

Here are the SBA 7(a) loan approvals since the beginning of the calendar year.

July                      $1,696,438,000
June                      $1,832,552,000
May                       $1,782,874,000
April                     $1,591,774,000
March                   $1,590,460,000
February             $1,323,495,000
January               $1,193,005,000

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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