fbpx
sba fresno

Downtown Fresno SBA district office via interiorintervention.blogspot.com

published on December 4, 2017 - 12:33 PM
Written by

The U.S. Small Business Administration announced record levels of small business lending originating from its Fresno office, which covers a 15-county region in the Valley and Central Coast.

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

“SBA loans continue to be the catalyst that entrepreneurs need to start, run, and grow their companies,” said Dawn Golik, acting director of the Fresno district office. “Working with an outstanding network of SBA lenders, our programs helped business owners across the San Joaquin Valley and Central Coast access capital, create and retain over 9,000 jobs, and strengthen this region’s economy.”

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

A total of $340 million 7(a) loans were made out of 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 for a total of $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 for a total of $9.6 million, and two 504 loans worth just shy of $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 million.

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

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

“The steady, continued growth of SBA’s loan volume underscores this region’s economic growth, and highlights small business confidence in the economy. During 2018, the Small Business Administration will continue helping small businesses which, nationally, are creating two out of every three net new jobs,” said Golik.

For more information about SBA’s loan programs, financial assistance and other services, visit www.sba.gov.


e-Newsletter Signup

Our Weekly Poll

Do you think Valley Children's Hospital will lose financial support due to CEO pay revelations?
72 votes

Central Valley Biz Blogs

. . .