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SBA Achieves Historic Small Business Lending in Fiscal Year 2020

SBA-backed lending supported more than 1,500 traditional loans in Colorado, with more than 165,000 businesses using PPP, disaster support
Release Date: 
Thursday, October 29, 2020
Release Number: 

DENVER – The U.S. Small Business Administration recently announced national and Colorado-specific Fiscal Year 2020 summary loan data of the financial assistance provided through traditional loan program lending as well as aid provided via the CARES Act.

Loans guaranteed through traditional SBA-backed lending programs exceeded $28 billion; however, enactment of the CARES Act dramatically increased loan volume guaranteed by the Agency: In FY20, the Paycheck Protection Program provided an additional 5.2 million loans worth more than $525 billion; the Agency’s Economic Injury Disaster Loan Program added another 3.6 million small business loans valued at $191 billion, as well as an additional 5.7 million EIDL Advances worth $20 billion.

From Oct. 1, 2019 to Sept. 30, 2020, the SBA’s Colorado District Office provided guarantees to small business financing through 1,514 loans totaling $870,196,687, a 3.8 percent increase year over year. These loans include the SBA’s 7(a) and 504 programs, as well as supported microloans from community lenders.

“In response to the unprecedented challenges faced by small businesses this year, the Trump Administration provided more than three-quarters of a trillion dollars in financial assistance to support impacted small businesses. SBA lending data further reflects the extraordinary commitment this Administration has made to supporting entrepreneurs in underserved communities,” Administrator Jovita Carranza said.


Highlights from the PPP nationwide include:

  • 27% of the PPP loan dollars were made in low-and moderate-income communities which is in proportion to the percentage of population in these areas:
  • More than $133 billion, or 25%, of PPP loans were approved for small businesses in historically underutilized business zones (HUBZones); and,
  • Over $80 billion, or 15%, of total PPP dollars were approved to small businesses in rural communities. 


Carranza further noted, “In addition to the tremendous amount of aid provided by the CARES Act via the PPP and EIDL programs, our regular loan programs showed solid year-over-year improvement, especially within our 504 and Microloan programs.

“SBA’s small but dedicated team of professionals punched far above its weight this year, building on last year’s lending numbers for traditional loans, while administering the largest and most consequential disaster response effort in modern history – all while overcoming unprecedented workforce disruptions.”

In FY20, SBA’s flagship 7(a) loan program made approximately 42,000 7(a) loans totaling $22.55 billion. The 504 loan program had another year of increased performance, with more than 7,000 loans made for a total dollar amount of more than $5.8 billion. The Microloan Program, which specifically helps businesses in underserved communities, achieved a second straight record year performance with nearly $85 million going to over 5,800 small businesses. Thirty-four percent of Microloans made in FY20 went to Black-owned small businesses.

“The SBA played a monumental role in supporting small businesses impacted by the COVID-19 pandemic, evidenced by the thousands of Paycheck Protection Program and Economic Injury Disaster Loans approved to urban and rural Colorado businesses since March,” said Dan Nordberg, SBA Regional Administrator and National Director of Rural Affairs. “The SBA’s historic lending achievement is a testament not only to the dedicated public servants within the agency, but also to the grit of small business owners and entrepreneurs across the state. The SBA will continue advocating for small businesses and working with business owners and entrepreneurs as we navigate these challenging times.”

Lending to underserved populations posted another strong year. Lenders reported that minority business owners received $7.5 billion in combined 7(a) and 504 lending, or 27% of SBA’s loan portfolio. Further reported data shows SBA’s 7(a) lending to women-owned businesses was nearly $2.7 billion in FY20 while lending from the 504 loan program to women-owned businesses was over $522 million. Additionally, loans to veterans totaled nearly $835 million for the 7(a) and 504 programs.

Frances Padilla, SBA’s Colorado District Office director, said FY2020’s Colorado lending shows the SBA continues to provide the vital support small businesses need.

“Loan activity in FY2020 is indicative that access to capital is still a very critical need for Colorado small businesses,s” Padilla said. “Every day, small businesses continue to show their fortitude through challenging conditions. The SBA is focused on providing the support needed. We remain committed to ensuring our state’s more than 655,000 small businesses have access to the programs and resources available.”

For more information about SBA’s loan programs, financial assistance, and other services, visit



About the U.S. Small Business Administration
The U.S. Small Business Administration makes the American dream of business ownership a reality. As the only go-to resource and voice for small businesses backed by the strength of the federal government, the SBA empowers entrepreneurs and small business owners with the resources and support they need to start and grow their businesses. It delivers services to people through an extensive network of SBA field offices and partnerships with public and private organizations. To learn more, visit