First quarter FY13 Loan Volume Shows Access to Capital Continuing to Drive Entrepreneurial Growth in Nebraska

Advisory Date: Wednesday, January 16, 2013
Release Date: Wednesday, January 16, 2013
Release Number: 13-05
Related State:
Nebraska
Contact: Michael Foutch (402) 221-7211

Omaha, NE – The number of small business loans financed through the SBA proved crucial to start-up and existing small business owners across Nebraska by providing needed access to capital in the first quarter of Fiscal 2013, ending December 31.

Over the past three months, the SBA, working with our commercial lender partners, approved 100 loans for $32.2 million in volume for small businesses across the state, a rate which closely matches the previous pre-recessionary participation rate.  Nationwide, SBA lending at the end of the first quarter of Fiscal 2013 was ahead of the same pace last year.

In a strong sign of confidence in Nebraska’s entrepreneurial economy, 40 percent of SBA loan approvals in Fiscal 2012 went to fund new businesses.  More loan dollars in the first quarter went to manufacturing small businesses than any other field, followed closely by retail trade firms and accommodation and food service businesses.

As a direct result of SBA-guaranteed small business financing throughout the state over the past three months, nearly 450 new jobs are being created in Nebraska, and more than 700 jobs are being kept on payrolls.  According to the SBA’s Office of Advocacy, half of all jobs in Nebraska are from companies with fewer than 100 employees.

Overall, the pace of SBA loan-making is a healthy sign for the economy and the credit markets and is one of the foundations for ensuring the availability of financing to small businesses trying to establish themselves, grow and create new jobs for Americans.

“Even with the continuing challenges throughout the economy facing them, small businesses here in Nebraska continue to find opportunities to expand their operations thereby creating and keeping jobs in our state,” said Leon Milobar, District Director of SBA’s Nebraska District Office. “So far this fiscal year the biggest issue for small businesses in Nebraska continues to be access to capital.  It’s encouraging to see they are continuing to take advantage of our loan programs in steady numbers.”

SBA-backed loans represent a fraction of small business lending nationwide.   However, these loans are closely monitored as an indicator of bank’s willingness to lend to Main Street companies. 

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