The Results Are In: $1.4 Billion in Loans Supported to New England Small Businesses

The SBA backed  4,119 loans supporting just under $1.4 billion in lending in the six New England states in fiscal year 2012. (SBA’s fiscal year ran from October 1, 2011 through September 30, 2012)

The SBA guaranteed 3,314 loans through its flagship 7(a) Loan Guaranty Program for a total of $557 million.

The Certified Development Company/504 Loan Program was front and center this year and posted its best year ever with 636 projects totaling $869 million in loans supported.  The temporary refinancing provision which expired in September, was partially responsible for the record year.

The SBA booked 180 microloans totaling $4.5 million through its intermediaries located throughout New England.

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Avatar About the Author: The Rhode Island Small Business Journal is a printed monthly magazine and an online resource for the aspiring and start-up entrepreneur and small business owner.

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