Portland District Office Third Quarter Lending Keeps Pace
PORTLAND, Ore. – In the Portland District, the U.S. Small Business Administration guaranteed $332 million in supported loans during the first three quarters of fiscal year 2013, up nearly $50 million over the same period the year before. The number of loans increased nearly 4 percent compared to the first nine months of FY12. From Oct. 1, 2012 to June 30, 2013, there were 562 7(a) loans and 60 504 loans supported. June was the largest month for 7(a) lending so far in FY13, at more than $34 million.
“The pace of SBA loan-making is a healthy sign of continued support by the credit markets and is one of the foundations for ensuring the availability of financing to small businesses,” said Acting District Director Robert DuCotè. “Helping small businesses gain access to capital is an important part of helping them grow and create new jobs.”
7(a) loans are the SBA’s primary business loan program; 504 loans provide long-term, fixed-rate financing for acquisition and/or renovation of capital assets including land, buildings and equipment.
For more information about SBA loan programs and/or to find a lender visit sba.gov/or.