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Central Valley SBA Lending Achieves New Record

Highest Number of Loans Since 2009; Focus on Underserved Entrepreneurs
Release Date: 
Thursday, October 15, 2015
Release Number: 
16-01
Contact: 
Dawn Golik (559) 487-5791, x2705

FRESNO – The U.S. Small Business Administration Fresno District Office announced today that the Central Valley and Central Coast achieved the highest lending record since 2009.  According to Fresno SBA District Director Carlos G. Mendoza, during the 2015 Fiscal Year which ended on September 30th, SBA approved 778 loans totaling $415,527,000 in Central California and the Central Coast.  These loans allowed small businesses in the fifteen county Fresno SBA District to create or retain 11,479 jobs. Additionally, more than a third of these loans were made to minority business owners.

“SBA loans are giving Central California small business owners the capital they need to start and grow,” said Fresno SBA District Director Carlos G. Mendoza. “We are proud to collaborate with banks, microlenders, and other SBA lenders across our District, and we thank them for their participation in our programs.  Because of their work, entrepreneurs are accessing SBA funding in record numbers. The success of the Central California and Central Coast small business community is vital to our region’s economic growth.”

These loans were made under two different SBA loan programs.  7a loans provides small businesses with comprehensive financial assistance, including short and long-term working capital, exporting, and refinancing existing debt under certain conditions and are made by banks, and other lending institutions. 504 loans offer business owners long term financing for acquisition and renovation of capital assets including land, buildings, and equipment.

For additional information on SBA products and services please contact the Fresno District Office at (559) 487-5791, via email at fresno@sba.gov, or visit www.sba.gov.

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