SBA small business lending reflects strong economic trends

Written on May 01, 2020

The U.S. Small Business Administration announced FY19 lending numbers showing that it guaranteed over $28 billion to entrepreneurs that otherwise would not have access to capital to start, grow, or expand their small businesses.

In FY19, SBA’s flagship 7(a) loan program made approximately 52,000 7(a) loans totaling $23.17 billion. The 504-loan program had another year of increased performance, with more than 6,000 loans made for a total dollar amount of more than $4.9 billion.

In FY19, there was significant growth of dollars lent in the SBA’s Microloan program, with more than 5,500 loans approved for nearly $81.5 million.

In addition to the strong lending numbers, the SBA continues to innovate and improve processes by leveraging enhanced technologies. Lender Match is an SBA technology platform that gives entrepreneurs the ability to complete a quick online form, without registration or cost to the user to connect with an SBA-approved lender within 48 hours. To date, Lender Match has generated 4.4 million leads on behalf of small businesses to our lenders, and lenders have contacted more than 230,000 unique borrowers with financing options.

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