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Central Valley SBA Lending Hits Another Record

SBA 7(a) Loans Helping Valley Small Businesses
Release Date: 
Friday, November 7, 2014
Release Number: 
15-06
Contact: 
Dawn Golik

FRESNO – The U.S. Small Business Administration Fresno District Office 7(a) Loan Program achieved another lending record in FY 2014.  Fresno SBA District Director Carlos G. Mendoza announced today that during the 2014 Fiscal Year which ended on September 30th,  SBA approved 631 7(a) loans totaling $310,765,300.  These loans allowed small businesses in the fifteen county Fresno SBA District which covers Central California and the Central Coast to retain or create $310,765,300jobs.  54% of FY14’s loans were made to underserved communities including minorities, women and Veteran business owners.

 “As the economy continues to recover, SBA loans are giving Central California small business owners the capital they need to start, run, and grow,” said Fresno SBA District Director Carlos G. Mendoza. “Small businesses create two of every three net new private sector jobs. Our local entrepreneurs are the cornerstone of our community, and their success is vital to our region’s economic growth.”

SBA’s 7(a) program provides small businesses with the most comprehensive type of financial assistance, covering the vast majority of business expenses, including short and long-term working capital, exporting, and refinancing existing debt under certain conditions.

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.