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Portland District Office First Quarter Lending Ahead of Pace
PORTLAND, Ore. – In the Portland District, the U.S. Small Business Administration guaranteed $123.8 million in supported loans during the first quarter of fiscal year 2013, up 46 percent over the same period the year before. The number of loans increased 5 percent compared to the first quarter of FY12. From Oct. 1, 2012 to Dec. 31, there were 195 7(a) loans and 21 504 loans supported.
“The pace of SBA loan-making is a healthy sign of continued support by the credit markets and is one of the foundations for ensuring the availability of financing to small businesses,” said Acting District Director Robert DuCotè. “Helping small businesses gain access to capital is an important part of helping them grow and stimulates economic development.”
7(a) loans are the SBA’s primary business loan program; 504 loans provide long-term, fixed-rate financing for acquisition and/or renovation of capital assets including land, buildings and equipment. For more information about SBA loan programs and/or to find a lender visit sba.gov/or.