State SBA office reports yet another lending record
by For the MBJ
Published: April 13,2011
JACKSON — Although only half through its fiscal year, the Mississippi U. S. Small Business Administration has already set a new lending record.
On March 31, 460 loans were approved totaling $198,448,900.
“That’s far more than the $123,422,551 small businesses received from Oct. 1, 2009 to March 31, 2010,” said Janita R. Stewart, SBA’s Mississippi District director. “It also eclipses the $193,274,951 record dollar volume of loans set for the entire 2010 fiscal year.”
SBA’s 2011 fiscal year ends Sept. 30.
Increased activity is due in part to lenders and borrowers taking advantage of the higher government guarantees and reduced fees made available through the Recovery Act and Small Business Jobs Act, which expired Dec. 31. In addition, SBA’s 7(a) and 504 loan program limits were permanently increased from $2 million to $5 million for 7(a) and up to $5.5 million for manufacturers and certain energy-related projects for 504.
Source: U.S. Small Business Administration
To sign up for Mississippi Business Daily Updates, click here.
One Response to “State SBA office reports yet another lending record”
Top Posts & Pages
- A BIG CHANGE: New mortgage rules seen bringing increase in pricey mobile home loans
- Ex-MDEQ leader Fisher joins Butler Snow
- Warden who lives hundreds of miles from jail resigns
- Hunting-weapons legislation passes House
- Analyst: KiOR Columbus plant may end up sold as scrap
- Jail kitchen supervisor pleads guilty to stealing food
- WILLOUGHBY: Bernie Reed cites hard work as key to success of Reed’s Metals
- (UPDATE) Gov. Bryant: $1.2 billion aluminum plant is a very exciting proposition for the state of Mississippi
- Nehi Bottling Company has been a Cleveland fixture for 85 years