August 17, 2021

Joseph Coleman
Contributing Editor

SBA Officials: “We Don’t See Any Funding Issues Throughout FY2021”

PHILADELPHIA — The 2021 America East Small Business Lending Conference kicked off this morning using a hybrid of virtual (Zoom Call) and in-person panel discussion from top SBA personnel.

SBA Officials reported FY2021 funds for SBA programs should not be exhausted even during the historic record-breaking growth of its lending programs.

“We don’t see any funding issues throughout the end of FY2021 as we continue to accelerate,” says John Miller, Deputy Associate Administrator, Office of Capital Access.

Total 7(a) volume is currently at $24B, (up from $16B in FY2020).

504 volume has already surpassed the total from last year, SBA confirms.

SBA praised the launch of the new Forgiveness Portal with over 1200 lenders enrolled and an estimated 300,000 applications submitted.

Follow Coleman Report for more updates from America East 2021.