SBA LOAN AMOUNTS UP 57% IN DALLAS/FORT WORTH DISTRICT

 

FORT WORTH, TX – The U. S. Small Business Administration, Dallas/Fort Worth (D/FW) District Office, approved $205.5 million in loans to 360 small businesses during the first quarter of fiscal 2013.  This represents an increase of 57% and 11% respectively in dollars and units over the same period last year.  

During the month of December alone, SBA DFW District loan approvals reached $80.9 million. The district also experienced a sharp increase in lending to minority- owned businesses with 128 loans valued at $66.4 million. Nationwide, to date, SBA approved 12,900 loans for a total value of $5.5 billion.  

“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 Dallas/Fort Worth District,” said Herbert Austin, 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 2013, 87 lenders in the district made at least one SBA loan which helped create or retain thousands of jobs.

“We are fortunate to have a very supportive and vibrant lending community in the D/FW district servicing area” said Austin. “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 or hiring new employees.” 

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

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