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The Ups and Downs Of SBA Lending

Biz BriefsFiscal 2006 was a record-breaking year for U.S. Small Business Administration loans, but not in New Jersey. Across the country the United States SBA set records by backing 100,197 loans worth a total of $19.1 billion compared with 94,554 loans totaling $18.1 billion during the prior-year period.

By comparison, overall loans from the Newark district office of the SBA fell, both in the number of loans and overall dollar amount. For the fiscal year ending Sept. 30, the local branch of the agency backed 3,370 loans totaling $604.8 million compared with 3,526 loans totaling $706.4 million during the prior-year period.

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