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Local SBA Lending Continues to Rebound in FY2011

Release Date: Tuesday, October 18, 2011
Release Number: FDO 12-03
Contact: Melende Ward (559) 487-5791, x2709
Valley continues to see improvement in access to capital for entrepreneurs
 

Fresno – Loans made by local lenders and banks and guaranteed by the Fresno District office of the U.S. Small Business Administration to small businesses and entrepreneurs continued to rebound in fiscal year 2011 which just ended on September 30th. The local SBA District Office services the 15 counties of Central California from the sierras to the pacific coast.

In fiscal year 2011, the Fresno District Office saw a 56% increase in lending dollars when compared to the previously year supporting more than $254 million (572 loans) in lending to small businesses, compared to more than $163 million (544 loans) in fiscal year 2010.

During the fiscal year SBA loans also saw a corresponding increase in the number of jobs created and or retained through the usage of SBA loan programs. Total jobs created or retained increased by 32% over the previous fiscal year. Total jobs created or retained was 9,027 in fiscal year 2011 versus 6,840 in 2010.

Nationally, the U.S. Small Business Administration in FY2011 reached the highest mark in the agency’s history, supporting over $30 billion, continuing the rebound begun in 2009.

"These loans demonstrate our continuing partnership with local lenders and collaboration with our vast business development network in meeting the unique financing needs of small businesses in all parts of our jurisdiction. However, there is still work to do. Each SBA lender, business development partner and SBA itself know the continuing challenges when it comes to getting loans in these difficult times, and that’s why it is important that SBA continues to work together with our lenders to facilitate lending to small businesses," said Fresno District Director Carlos G. Mendoza.

“Nationally SBA-backed lending continued the upward trend we saw last year,” SBA Administrator Karen Mills said. “Due to the Small Business Jobs Act and a return to pre-recession lending levels, over 61,000 small businesses had access to capital. Small businesses are the backbone of the economy and SBA has been there to help them rebound through difficult times over the past few years. First through the Recovery Act and then through the Small Business Jobs Act and new SBA lending programs, SBA has provided small businesses with the tools they need so they can grow and create jobs. As SBA lending levels continue to indicate a rebound in small business lending, we will work through new programs to fill the gaps created in the marketplace.”

While nationally SBA lending is continuing to return to pre-recession lending levels, there continue to be gaps in the marketplace and small businesses that need access to capital. To help fill these gaps, SBA created two new lending programs in FY2011: Community Advantage and Small Loan Advantage. The Advantage lending programs provide streamlined applications for loans under $250,000 with the standard 7(a) guarantee in order to incentive lenders to make smaller-dollar loans. The smaller-dollar loans often go to underserved communities. Additionally, Community Advantage increases the points of access for small businesses by allowing “mission focused” lenders, such as CDFIs and microlending intermediaries, the ability to make 7(a) loans. SBA loans are government guarantee loans made through private lenders. SBA works with resource partners to deliver many different types of lending programs.

For more information about these and other SBA programs, visit the website at www.sba.gov/ca/fresno or contact the Fresno SBA District Office at (559) 487-5791. The top ten most active participating SBA lenders for the Fresno District Office, the top five most active Certified Development Corporations (CDC) and the top ten most active counties for fiscal year 2011 were: 

Top 10 Lender Loan Activity * Fresno District FY 2011 (10-1-10 to 9-30-11)
  Lender # of Loans $ Value
(rounded millions)
1 Coast National Bank 54 $14.3
2 Wells Fargo Bank 44 $17.3
3 JP Morgan Chase Bank 37 $5.4
4 Premier Valley Bank 30 $18.4
5 Monterey County Bank 22 $4.6
6 Mission Community Bank 20 $3.4
7 California Bank & Trust 19 $3.8
8 Bank of the Sierra 18 $5.7
9 Borrego Springs Bank 17 $9.5
10 Coasthills FCU 15 $3.8

 

 

 

 

 

 

 

 

 

 

 

Top 5 Cert Development Corp Activity * Fresno District FY 2011 (10-1-10 to 9-30-11)
  Lender # of Loans $ Value
(rounded millions)
1 Mid State Devel. Corp 29 $15.4
2 Bay Area Devel. Co 13 $10.0
3 Certified Devel Corp, Tulare 11 $3.6
3 Cen Cal Bus Finance Group 11 $2.2
4 Calif Statewide Cert. Devel. 9 $2.8

 

 

 

 

 

 

  

Top 10 County Lending Totals * Fresno District FY 2011 (10-1-10 to 9-30-11)
  County # of Loans $ Value
(rounded millions)
1 San Luis Obispo 137 $38.6
2 Fresno 122 $52.6
3 Kern 102 $53.8
4 Monterey 70 $34.8
5 Stanislaus 46 $34.3
6 Tulare 41 $14.3
7 Merced 19 $7.6
8 Madera 13 $8.8
9 San Benito 11 $4.5
10 Kings 4 $2.5

 

 

 

 

 

 

 

 

 

 

 

*Ranked by Number of Loans Source: U. S. Small Business Administration 10-01-11
 

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