7(a) Program On Record Pace After 1st Quarter

In the first quarter of the SBA's fiscal year, the SBA, through its lending partners, approved 23,197 loans for $3.56 billion in 7(a) loans. This is up from last year's pace where 18,822 loans were approved at $3.12 billion over the same period.

The 504 loan program is also 13% ahead of last year's mark, issuing 1,780 loans worth $882.9 million. These figures are positive signs that small businesses are still being created or expanded, indicating strong economic prospects.