SBA Sets New Lending Record for Orange County and Inland Empire Small Businesses

Wednesday, November 08, 2017

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The U.S. Small Business Administration announced fiscal year 2017 lending numbers showing increasing loan levels in small business lending through the 7(a) and 504 loan programs, as well as increases in lending to women, veterans and emerging  communities.   Nationally, SBA approved over 68,000 loans in the 7(a) and 504 loan programs in FY17.  These programs provided over $30 billion to small businesses. 

There was record lending activity in FY17 for the SBA Orange County/Inland Empire (OCIE) District Office, as $1.57 billion was delivered to small businesses by participating SBA lenders, an increase of 11.3% by dollar amount over the prior fiscal year.  1,962 businesses were financed in FY17, compared to 2,029 businesses for $1.41 billion in FY16.  SBA’s top three participating lenders in the OCIE District by number of units for FY17 were Wells Fargo Bank, U.S. Bank, and JPMorgan Chase Bank.

“The great partnerships between the SBA district office, participating SBA lenders, and SBA-funded Resource Partners are the key to us having a record year,” said J. Adalberto Quijada, Director of the Orange County / Inland Empire District Office.  “Our region is successful when all small business stakeholders work together to help small business owners and entrepreneurs achieve their dreams.”

SBA’s flagship loan program, referred to as 7(a), provides small businesses with guaranteed loans covering the vast majority of small business needs including working capital, fixed and intangible asset financing, as well as refinance and export support through term and revolving loans.  

In FY17, the 7(a) program supported a consistent number of loans -- more than $980 million combined across 1,688 loans in Orange, Riverside, and San Bernardino Counties.  The SBA continues to streamline and improve access to its loan program for small loans and emerging communities, delivering more than $41 million in smaller loans of $350,000 or less in FY17 within the OCIE District.

504 loans provide small businesses with long-term fixed rate financing to acquire fixed assets, and are available through Certified Development Companies (CDCs), SBA’s community-based partners.  In FY17, the 504 program remained at zero subsidy, and grew to $5 billion in loan volume nationally.  504 lending in Orange County and the Inland Empire grew by 7.5% in volume and 7.6% in dollar amount through 274 loans supporting $592 million.

7(a) lending to women-owned businesses (both majority and minority owned) grew in total dollar in the OC/IE District in FY17, exceeding $184 million, an increase of $43 million from FY16.

There has been yearly growth in SBA’s loan programs, reflecting the important role of its lending partners. In FY17, SBA added nationally 241 new lenders that have contributed to a healthy loan portfolio and one of the lowest loss rates in the SBA’s history.

During the fiscal year, SBA launched its online lender referral tool Lender Match.  Lender Match is an upgrade to LINC (Leveraging Information and Networks to access Capital). This tool helps connect small business borrowers with participating SBA lenders. 

Lender Match is available to all SBA 7(a) lenders nationwide, including nonprofit lenders that offer free financial advice and specialize in micro lending, loans in SBA’s Community Advantage program, and the SBA’s CDC/504 loan program.  Lenders previously signed up for LINC will continue receiving referrals on the Lender Match platform.

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

Category: Partner News