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Fresno SBA office announces record lending levels

Downtown Fresno SBA District Office via interiorintervention.blogspot.com

published on December 4, 2017 – 12:33
Written by Business Journal staff

The US Small Business Administration announced record levels of small business loans from its Fresno office, which covers an area of ​​15 counties in the Valley and the Central Coast.

For fiscal 2017, the Fresno SBA guaranteed more than $ 425.5 million in loans, an increase of more than $ 6 million from last year.

“SBA loans continue to be the catalyst entrepreneurs need to start, manage and grow their businesses,” said Dawn Golik, Acting Director of the Fresno District Office. “By working with an exceptional network of SBA lenders, our programs have helped business owners in the San Joaquin Valley and Central Coast access capital, create and retain more than 9,000 jobs, and strengthen business. economy of this region. “

The SBA has two small business loan programs. Loan 7 (a) can be used by small businesses for working capital, financing of fixed and intangible assets, refinancing and export support. The 504 long-term loan is designed for the purchase of fixed assets, including real estate, buildings and machinery.

A total of $ 340 million in 7 (a) loans have been made in the Fresno District, an increase of $ 4 million from last year. There were also $ 86 million in 504 loans, up $ 2 million from last year.

In Fresno County alone, in fiscal 2017, there were 151 7 (a) loans totaling $ 77 million and 21,504 loans worth $ 15.8 million.

Tulare County had 52 7 (a) loans worth $ 30.5 million and 13,504 loans worth $ 9.5 million.

Madera County had 21 7 (a) loans totaling $ 9.6 million, and two 504 loans worth just under $ 1 million.

Kings County had eight 7 (a) loans totaling $ 3.2 million.

By volume, the top 7 (a) lender in the 15-county district was Utah-based Celtic Bank Corp. with 30 loans totaling $ 29.5 million, followed by Wells Fargo with 85 loans totaling 20.9 millions of dollars.

Fresno First Bank reported 40 loans totaling $ 15.4 million, while Central Valley Community Bank had 29 loans totaling $ 8.8 million.

Cen Cal Business Finance Group, a certified development company based in Fresno, has made 24 loans totaling $ 14.8 million.

“The steady and continued growth in the SBA’s lending volume underscores the economic growth of this region and underscores the confidence of small businesses in the economy. In 2018, the Small Business Administration will continue to help small businesses nationwide that are creating two out of every three net new jobs, ”Golik said.

For more information on SBA loan programs, financial aid, and other services, visit www.sba.gov.

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