Stitches

SBA Has Record Lending Year

The U.S. Small Business Administration approved a record number of loans in 2014, lending out $19.19 billion to help small-business owners expand their companies. By the end of the fiscal year, the SBA had approved more than 52,000 loans, a year-over-year increase of 12%. In terms of dollars loaned, the program was up 7.4% over 2013.

“As our economy continues to grow and recover, small businesses are the essential fuel to that continued growth,” says Maria Contreras-Sweet, SBA administrator.