April 18, 2022
Main Street Monday – SBA Lending Activity Up from Fiscal Year 2021
The SBA 7(a) Quarterly Connect Call provided lending data from the end of the second quarter of fiscal year 2022. 7(a), 504, and Community Advantage lending have all increased from this time in fiscal year 2021. Here are the statistics:
•As of the end of Q2 in fiscal year 2022, over 20,000 7(a) loans have been approved for $10.75 billion.
•7(a) lending activity has increased this year, but it is still lower than 7(a) lending activity from fiscal year 2017 to 2019.
•The 504 program continues to have another record-breaking year with over 5,000 loans being approved.
•$5.32 billion in dollars has been approved, an almost $2 billion increase from the end of the second quarter in fiscal year 2021.
•The number of smaller loans and the total amount of approved dollars for loans up to $150k have improved from fiscal year 2021, but the numbers are overall lower than fiscal year 2017 to fiscal year 2020.
•9,406 loans under $150k have been approved through the first half of fiscal year 2022.
•Almost $600 million is approved in smaller loans.
•Loans from $150k to $350k have increased from 2021, but the lending activity is lower when compared to fiscal years 2017 through 2020.
•4,372 loans have been approved for $1.15 billion.
•The Community Advantage program has approved 316 loans for almost $47 million, an improvement from fiscal year 2021.