April 23, 2024
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Northwest FL - Business Loans - Making Gains
Business lending for fiscal 2010 was still 42% below its 2007 five-year peak in the 43-county Small Business Administration North Florida District, as measured by two leading SBA-guaranteed loan programs. But 7(a) loans, often used for startups and working capital, gained 32% from the previous year; 504 loans, a frequent choice for acquisitions or expansions, increased only 1% from a year ago.
SBA District Lending (in millions) |
|||
| 2007 | 2009 | 2010 | |
7(a) loans |
$263.1 | $116.1 | $153.7 |
| 504 loans | $178.9 | $99.8 | $100.9 |
