“Reaching such strong numbers is a clear sign that both the business and lending communities are regaining their confidence in the economic climate of the country,” said SBA Administrator Karen Mills. “It means that the credit markets are increasingly willing to help small businesses establish themselves, grow and create new jobs for Americans.”
Over the past year, SBA began streamlining and simplifying many of the loan programs in order to provide more access and opportunity for both lenders and small businesses. As part of this effort, SBA encouraged lenders to use more of their own paperwork and the agency’s updated processing systems, so that more than 80 percent of its loan applications can now be processed online.
During the fiscal year, which ended Sept. 30, SBA loan approvals supported $30.25 billion —53,848 loans — to small businesses.
For more information about these and other SBA programs, visit the SBA website at www.sba.gov, or contact your local SBA field office. You can find contact information for your local SBA office at http://www.sba.gov/local resources/index.html.
Disaster victims who have registered with FEMA can apply for an SBA loan online using the electronic loan application at https://disaster loan.sba.gov/ela, or call SBA at 800-659-2955. Persons with a hearing impairment can call 800-877-8339. The disaster relief filing deadline for physical damage is Oct. 22.