7(a) Loan Approvals are Up in Fiscal Year 2024

February 20, 2024

Delaney Sexton
Contributing Editor

7(a) Loan Approvals are Up in Fiscal Year 2024

• As of February 19, 2024, SBA has approved $12.05 billion between the 7(a) and 504 loan programs.
• Between the two programs, 25,007 loans have been approved.

7(a) Loan Approvals

• There were 22,877 7(a) loans approved.
• The total 7(a) loan amount approved was over $9.7 billion.
• The average 7(a) loan size is just over $424,000.
• 56% of all 7(a) loans are $150,000 or less.

504 Loan Approvals

• The total number of 504 loans approved was 2,132 loans.
• The approved total 504 loan amount is more than $2.34 billion.
• An average 504 loan size is $1,098,252.
• Nearly half of all approved 504 loans are $500,000 to $2 million.

Source:
SBA Weekly Lending Report