SBA lending in state sets another record
JACKSON — The U.S. Small Business Administration has guaranteed 324 loans for Mississippi small businesses totaling approximately $153.139 million during the first three months of fiscal year 2011.
This represents a 60 percent increase in the number of loans approved and a 186 percent increase in loan dollars approved compared to the first quarter of fiscal year 2010, which had 203 loans totaling approximately $53.71 million.
An additional $3.2 million in ARC loans were made during the first quarter last year, but that program expired when the Recovery Act sunset, which makes these numbers even more substantial.
“It is a record for loan dollars approved in a quarter in Mississippi,” said Janita R. Stewart, Mississippi SBA District director. “(It is) even more impressive when you consider $193,274,951 in loan dollars were guaranteed for all of fiscal year 2010 in Mississippi, which was a record-setting year.”
SBA’s fiscal year runs from Oct. 1 through Sept. 30.
To sign up for Mississippi Business Daily Updates, click here.
Mississippi Economic Council
Mississippi Chambers of Commerce
Mississippi State Legislature
Mississippi Development Authority
Mississippi Economic Development Council
North Mississippi News
Social Security Disability Lawyer
Auto Accidents Lawyer
Top Posts & Pages
- Ingalls to lease former SRHS clinic in Gautier for employee medical center
- Aluminum company rumored for Columbus: 'clock' is for website, not plant site
- Shale oil: market correction or longterm direction?
- Miss. surgeon sentenced in tax evasion case
- MARTIN WILLOUGHBY: Gary Herring building tomorrow by educating today
- WILLOUGHBY: Mayo Flynt leads AT&T Mississippi by enjoying both work and workers
- Hyatt-Place is Columbus’ newest hotel option
- MBJ exclusive: Jackson’s new airport CEO fulfills desire to taking on the top job
- Nehi Bottling Company has been a Cleveland fixture for 85 years