Lenders in the U.S. Small Business Administration’s Springfield branch office area submitted and received SBA guarantees for 422 loans amounting to a record breaking $162.8 million in FY 2011, which ended Sept. 30.
The totals include $30 million in loans that went to 122 start-up businesses in southwest Missouri. One hundred forty-nine SBA-backed loans for $74.4 million occurred in the first quarter of FY 2011 prompted by the loan enhancements provided under the Small Business Jobs Act of 2010, which were in effect.
In Texas County, four loans were approved for more than $5.7 million.
For information about SBA programs, visit the SBA website at www.sba.gov.