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Recovery Loan Incentives Result in Record Wisconsin SBA Lending in FY 2011

Release Date: 
Thursday, November 10, 2011
Release Number: 
12-05
Advisory Date: 
Thursday, November 10, 2011
Advisory Number: 
Contact: 
Becky Freund at 608-441-5519

News Release

WISCONSIN DISTRICT PRESS OFFICE

Recovery Loan Incentives Result in Record Wisconsin SBA Lending in FY 2011

Wisconsin SBA supported more than $835 million in small business loans

MILWAUKEE/MADISON– In Wisconsin, loans guaranteed by the U.S. Small Business Administration to small businesses and entrepreneurs resulted in record lending in fiscal yer 2011, which ran from October 1, 2010 to September 30, 2011, resulting from loan enhancements first put in place under the Small Business Jobs Act of 2010 signed by President Obama on September 27, 2010.

In fiscal year 2011, Wisconsin SBA supported $835,220,100.00 (2,025 loans) in lending to small businesses, compared to more than $549 million (1,751 loans) in fiscal year 2010.

Eric Ness, Wisconsin District Director states, “Wisconsin SBA did more loans in dollars to Wisconsin Small Business then any time in our history.  I would like to thank the 191 lenders who made SBA loans though out the State of Wisconsin to help small businesses start, grow and create jobs.”

For more information about these and other SBA programs, visit the SBA Web site at www.sba.gov  or Wisconsin’s SBA Web site at www.sba.gov/wi.

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Related State: 
Wisconsin