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Orange County sees a spike in SBA-backed loans
The Santa Ana District office says the number grew by 70 percent for its three-county region.
BY BLAKE BAKKILAPublished: August 27, 2010 09:07 AM
Small Business Administration-backed loans have increased – in number and price – significantly over the past year in Orange, Riverside and San Bernardino counties.
Compared to last year, the region saw a 40 percent jump in the number and a 70 percent increase in the dollar amount awarded to small businesses, according to statistics from the SBA’s Santa Ana District Office, which oversees the three-county area.
"Making sure that small businesses have adequate capital to grow and create jobs to lead us out of this recession is a top priority of the SBA," said District Director Adalberto Quijada.
Since the American Recovery and Reinvestment Act was signed into law last year, the average weekly dollar volume for SBA-backed 7(a) and 504 loans has increased by more than 90 percent.
Among the most active lenders in the Santa Ana District: Wells Fargo, with 126 loans; CDC Small Business Finance, with 116 loans; and JPMorgan Chase, with 101 loans.
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Compared to last year, the region saw a 40 percent jump in the number and a 70 percent increase in the dollar amount awarded to small businesses, according to statistics from the SBA’s Santa Ana District Office, which oversees the three-county area. "Making sure that small businesses have adequate capital to grow and create jobs to lead us out of this recession is a top priority of the SBA," said District Director Adalberto Quijada. Since the American Recovery and Reinvestment Act was signed into law last year, the average weekly dollar volume for SBA-backed 7(a) and 504 loans has increased by more than 90 percent. Among the most active lenders in the Santa Ana District: Wells Fargo, with 126 loans; CDC Small Business Finance, with 116 loans; and JPMorgan Chase, with 101 loans. Related headlines Orange County hotel sales jump in first half of 2010 Consumer confidence shows small gains in California, says Chapman Report: SoCal gets $700 million boost from state's high-speed rail O.C. sees year-over-year job growth, monthly stats show big losses in July |
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