SBA loans remain strong in the Lubbock District

Advisory Date: Friday, March 8, 2013
Release Date: Saturday, January 12, 2013
Release Number: 06-LBB
Contact: Kim Hobgood (806) 472-7462

LUBBOCK, TX – The U. S. Small Business Administration, Lubbock District Office,  approved $19.8 million in loans to 39 small businesses during the first quarter of fiscal year 2013.  Nationwide, to date, SBA approved 12,900 loans for a total value of $5.5 billion. Overall, SBA lending continues at a solid pre-recession pace.

 

“We are happy to announce that SBA lending continues to rebound in the new fiscal year providing more dollars to more small businesses in the Lubbock District,” said Calvin Davis, District Director.   If this trend continues during the next few months, total dollar volume should reach an unprecedented level, surpassing pre-recession loan amounts in the area.  

 

During the first quarter of fiscal year 2013, 18 lenders in the district made at least one SBA loan which helped create or retain a number of jobs in the West Texas District.

 

“We are fortunate to have a very supportive and vibrant lending community in the West Texas servicing area” said Davis. “They show a strong commitment to strengthening our nation’s economy by providing financing to help small businesses start and grow by retooling their operations, purchasing new inventory and hiring new employees.” 

For more information about all of the SBA’s programs for small businesses, visit www.sba.gov

 

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