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.
FOLLOW THE MBJ ON TWITTERMy Tweets
Top Posts & Pages
- Alcorn president launches new customer service task force
- NEW IN MADISON COUNTY — Mississippi Bio-Medical Business Collaboratory to be introduced Friday
- David Duval, former British Open winner, joins Sanderson Farms field
- Court rules against Greenwood councilwoman; must give up office
- GreenTech holds grand opening of neighborhood electric vehicle plant
- Turner Grain’s bankruptcy will help consolidate lawsuits alleging breach of contract
- Cochran continues to reach out to African American voters
- Peoples Bank reports quarterly loss due to bad loans
- Senators write letter over Waters of the United States proposal