The SBA’s Region IX office announced today that over 8,820 SBA loans were approved in FY 2012 for a total of more than $6.68 billion, outperforming FY 2011 activity by more than $265 million. Region IX led the way last year and this year in terms of SBA loan dollar volume, enabling the SBA to post the two highest dollars loaned totals in agency history.
Loans were made to small businesses and entrepreneurs throughout California, Arizona, Nevada, Hawaii and Guam
Overall, the pace of SBA loan-making is a healthy sign for the economy and the credit markets and is one of the foundations for ensuring the availability of financing to small businesses trying to establish themselves, grow and create new jobs for Americans.
“The increased level of activity in SBA lending in Region IX is a great indicator that we’re gaining momentum and shows our economy is getting stronger on a daily basis,” said SBA Regional Administrator Elizabeth Echols. “The increase of more than a quarter of a billion dollars loaned in the region should encourage more entrepreneurs and small business owners to seek the capital they need to start, grow and succeed. As they do that, more and more jobs will be created.”