Lending of SBA Increases, Loan Rise up-to 30 percent
Written on February 22, 2011 – 9:54 am | by Ashley Johnson
In the fiscal 2010, U.S. Small Business Administration (SBA) has seen lending rise to 30 percent nationwide. Arvest bank has seen a rise in SBA loans by 53 percent at the end of this fiscal. This far exceeded the general trend of increased SBA lending.
Jackie Randle, SBA loan administrator and vice president says, “Arvest is proud to be one of the state’s largest SBA lenders.” Though the SBA provides support to small businesses, education institutions and financial organizations, it is found that it does not make direct loan to businesses. It just acts as a guarantor of small business loan grants.
Much of the SBA’s increase in loan grants is attributed to local availability of banks and knowledge of individual markets. This also involves a renewed national interest in SBA lending programs.
Similar Posts:
- Small Business Lending Increases in New York and Other US States
- Small Business Loan Guarantees renewed for businesses older than 3 years
- Loans for Small Businesses and ways of finding them
- Findings of New York Fed Survey Reveals Credit Constraints for Small Businesses
- US Small Business Lending Rises for Fifth Straight Month
Tags: 30 Percent, Percent