Q2 2009 SBA Lending Down 30%
Yes, as CNN Money reports, that’s a grim headline. But, the news on the SBA loan front isn’t all bad.
One vote of confidence can be found in the increase in lending after the Stimulus Act was signed. “Comparing the months before and after the February 17 stimulus signing, the SBA reports a 24% jump in the number of 7(a) loans it has backed,” CNN stated.
The article goes on to state that over 400 SBA-approved lenders that had not made a 7(a) loan since September have made an SBA loan since the Stimulus Act was signed.
Although the SBA stats seem weak over the past year or two, the program is making a resurgence as lenders gradually regain some confidence in the market. To read beyond my summary, check out the full article on CNN Money.