Small Business Administration Lending Activity in Pasco County down for 2010 4th Quarter.

 

March 2, 2011

"We would like to see those loan volumes return to more normal levels" said John Hagen, Pasco Economic Development Council President/CEO. "The SBA has some great alternatives to help small businesses. It’s surprising that more companies don’t use them, especially in the current restrictive lending climate."

SBA offers a variety of loan programs, including SBA Loan Queue, 7(a) Loans, CDC/504 Loans, and Mircoloans. www.sba.gov has more information. Many financial institutions offer SBA loans. Local loan officers can explain more about the various programs. Pasco Economic Development Council can also help companies evaluate their eligibility for these and other alternative lending programs.

The Small Business Administration (SBA) released its lending activity report for Pasco County for the period of October through December 31, 2010. Activity showed 12 loans were awarded to Pasco companies totaling $3,922,000 for the quarter. In comparison, October through December 31, 2009, 21 loans were awarded to Pasco companies in the amount of $8,188,500.