Small-business lending is on the rise, according to the SBA:
- In fiscal year 1997 (which ended September 30), the SBA approved 45,288 loan guarantees totaling $9.46 billion in the 7(a) General Business Loan Guaranty program--a 23 percent increase over fiscal year 1996. Combined with the 4,131 loans ($1.44 billion) under the Certified Development Company Loan program, the $10.9 billion total exceeds the fiscal year 1996 mark of nearly $10.2 billion.
- A record 10,600 loans were made to minority owned firms in fiscal year 1997. Similarly, a record 10,800 loans were made to women-owned firms in the same time period.
Duff Ferguson, c/o Alliance Capital Management LP, 1345 Ave. of the Americas, New York, NY 10105, email@example.com