November 26, 2008
The local office of the U.S. Small Business Administration, between fiscal 2007 and 2008, posted a double-digit percentage increase in the dollar value of loans made, but loan volume went in the opposite direction, according to figures released by the San Antonio SBA office.
The total dollar amount of loans made in the 55-county SBA San Antonio region increased by 17 percent — from $277.2 million to $324.7 million — between the two fiscal years. The SBA’s fiscal year ends on Sept. 30.
However, the total number of SBA loans in the region decreased by 8.2 percent, from 1,376 in fiscal 2007 to 1,272 loans in fiscal 2008.
The 7(a) loan program was hit hardest by the downturn in area SBA lending, figures show. The 7(a) program is a loan-guarantee program in which the SBA guarantees between 75 percent and 85 percent of the loan amount.
Source :http://www.bizjournals.com/sanantonio/stories