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SMALL BUSINESS NEWS

12 Sept 2012

 

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Weekly SBA Lending Report - Week Ending 7 September 2012

According to the SBA weekly lending report 7(a) lending for the week ending 7 September 2012 dropped by 17.7% compared to a year ago the same period. Startup lending was also down 13% for the same period last year.

In 2011 a total of $18,306,150 were loand under the 7(a) program while only $13,874,991 was loaned in 2012. Startup lending in 2011 was $4,298,022 and in 2012 that amount was $3,737,793.
Lending to minorities also saw a decline. The breakdown for minorities were as follows

Group 2011 2012 % Change
African American $300,874 $199,393 -33.7%
Hispanic $739,806 $656,010 -11.3%
Asian $3,427,161 $2,258,586 -34.1%
Native American $100,025  $71,170 -28.8%
Women $2,206,764  $1,699,751 -23.0%
Lending to Veterans also saw a decline. In 2011 $919,578 in loans were made to veterans. In 2012 that amount was $580,684. This represents a 36.9% decrease.

Sources:
The SBA Weekly Lending Report


By Jack River

 

 

 

 

 

 
 

 

  
 

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