Local SBA Lending Continues to Rebound

FRESNO – Loans made by local lenders and banks and guaranteed by the Fresno District office of the U.S. Small Business Administration to small businesses and entrepreneurs continued to rebound in fiscal year 2013 which just ended on September 30th.  The local SBA District Office services the 15 counties of Central California from the sierras to the pacific coast.

In fiscal year 2013, the Fresno District Office saw an increase in total lending dollars when compared to the previous year supporting more than $283 million in total lending to small businesses, compared to more than $266 million in fiscal year 2012.  This resulted in the highest dollar volume posted by the Fresno SBA office since the recession began.

SBA approved 109 504 loans during FY-2013, which provided small businesses with long-term, fixed-rate financing to acquire real estate and major fixed assets, for a total of $71.9 million.

“These loans demonstrate our continuing partnership with local lenders and collaboration with our vast business development network in meeting the unique financing needs of small businesses in all parts of our jurisdiction,” said Fresno District Director Carlos G. Mendoza.  ”However, there is still work to do.  Each SBA lender, business development partner and SBA itself know the continuing challenges when it comes to getting loans in these difficult times, and that’s why it is important that SBA continues to work together with our lenders to facilitate lending to small businesses.”

For more information about these and other SBA programs, visit the website at www.sba.gov/ca/fresno or contact the Fresno SBA District Office at (559) 487-5791.