The U.S. Small Business Administration’s (SBA’s) loan volume in 2012 was its second highest ever, down slightly from 2011. The SBA supported $30.25 billion in loans this year, compared with $30.5 billion last year. Last year’s loans were heavily boosted by loan incentives to lenders as part of the Small Business Jobs Act of 2010.
Slightly more than $15 million of this year’s loans (a total of 44,377 loans) were approved under the General Business Loan program, the SBA’s largest program.
The SBA also approved 9,741 loans as part of the 504 Certified Development Company program, which offers loans to businesses that encourage economic development in their communities. Typically, the SBA provides 40 percent of a single project’s cost, and third-party lenders and borrowers provide the remaining cost.
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