For the first time in the agency's history, the SBA said it has supported more than $30 billion in loans.
During the 2011 fiscal year, which ended Sept. 30, SBA loan approvals supported $30.5 billion (61,689 loans) in lending to small businesses and start-ups through its 7(a) and 504 loan programs, compared to $22.6 billion (60,771 loans) in FY 2010 and $17.9 billion (50,830 loans) in FY2009.
The totals for FY2011 include 53,706 loans totaling $19.63 billion under the agency's largest loan program, the 7(a) program, and 7,983 loans for a total approval of $4.84 billion, supporting $10.34 billion in small business lending under the 504 Certified Development Co. loan program.
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