The U.S. Small Business Administration posted record-breaking loan numbers again in FY 2007, expanding access to capital to thousands of entrepreneurs across America and setting records for both the combined number and dollar volume of loans, according to their News Release today.

SBA approved 110,275 loans totaling more than $20.6 billion under its two primary small business loan programs during the 12 months ending on Sept.30 2007, compared with 107,233 loans worth $20.25 billion in 2006. With the strong results in 2007, the combined outstanding loan balances in the 7(a) and 504 loan programs increased 6.5 percent to $66.7 billion. The total does not include an additional $2.65 billion in venture capital funding provided by SBA-licensed Small Business Investment Companies to more than 2,000 small businesses.

The SBA plays an increasingly vital role in enabling small businesses across the country to get the capital they need to buy and grow their businesses, create jobs and build their communities. Although SBA does not make direct loans to small businesses, the agency's use of its guaranty authority enables commercial lenders and Certified Development Companies to make loans to small businesses they otherwise would not have made. Both primary loan programs combined set records this year. The 7(a) loan guaranty program - which can be used for nearly any legitimate business purpose including business acquisitions, debt refinance, business expansions, business startups, equipment and working capital - increased the number of loans from 97,290 in FY 2006 to 99,607 loans in FY 2007. The Certified Development Company - or 504 - program, for the purchase of real estate and fixed assets, provided 10,668 loans worth $6.31 billion, up from the 9,943 loans worth $5.73 billion in FY 2006.

The SBA's loan programs have been setting records for six consecutive years, and have more than doubled since fiscal 2000, from 48,313 to 110,275. During this period, SBA has approved more than 555,000 loans worth more than $107 billion to American small businesses, more than in the previous 10 years combined. Over this time, the agency's total small business loan portfolio has grown to $66.7 billion, compared to $45.9billion at the end of FY 2002 and $62.6 billion a year ago.

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