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Weekly SBA
Lending Report - Week Ending 7 September 2012 |
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According
to the SBA weekly lending report 7(a) lending for the week
ending 7 September 2012 dropped by 17.7% compared to a year
ago the same period. Startup lending was also down 13% for
the same period last year.
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In 2011 a total of $18,306,150 were loand under the 7(a)
program while only $13,874,991 was loaned in 2012. Startup
lending in 2011 was $4,298,022 and in 2012 that amount was
$3,737,793. |
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Lending to minorities also saw
a decline. The breakdown for minorities were as follows
| Group |
2011 |
2012 |
% Change |
| African American |
$300,874 |
$199,393 |
-33.7%
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| Hispanic |
$739,806 |
$656,010 |
-11.3% |
| Asian |
$3,427,161 |
$2,258,586 |
-34.1% |
| Native American |
$100,025 |
$71,170 |
-28.8% |
| Women |
$2,206,764 |
$1,699,751 |
-23.0% |
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Lending to Veterans also saw a decline. In 2011 $919,578 in
loans were made to veterans. In 2012 that amount was
$580,684. This represents a 36.9% decrease. |
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Sources:
The SBA Weekly Lending Report
By Jack
River
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