bplanGURU
Friday, October 22, 2004
SBA Sets Records
Here's the link to the SBA press release:
SBA Press Release
The highlights:
- The number of loans has doubled since 2001.
- In FY 2004, the SBA backed approx. 75,000 7(a) loans totaling $12.5 billion.
- "Small businesses account for seven out of every 10 new jobs and produce countless new technologies and innovations."
- Women and minorities benefited from record levels in FY 2004 as well, each more than double the levels set in 2001. Overall, nearly a third of SBA-backed loans went to minorities, and the number of loans to African Americans, Hispanics and Asian Americans rose to record levels, up 32 percent over last year for African Americans, up 31.7 percent over last year for Hispanics and up 33.7 percent over last year for Asian Americans. The number of loans to women increased 27.3 percent over FY 2003, and the loans to veterans were up by 21 percent.
