Tuesday, November 03, 2015

What SBA's record year for loans means for small business

The Small Business Administration backed a record $23.6 billion in loans to small businesses through its flagship 7(a) program in fiscal 2015, which ended Sept. 30.
That’s up 23 percent from year ago. Demand for 7(a) loans continued to grow in October — through Oct 23, SBA lending this year was ahead of last year’s record-setting pace.

SBA-backed 7(a) loans are attractive to some small businesses because of their long terms, which mean lower monthly payments.

Kent Hoover/Dallas Business Journal