Loans made by local lenders and banks and guaranteed by the Fresno District office of the U.S. Small Business Administration to small businesses and entrepreneurs continued to rebound in fiscal year 2012 which just ended on Sept. 30. The local SBA District Office services the 15 counties of Central California from the sierras to the pacific coast.
In fiscal year 2012, the Fresno District Office saw an increase in lending dollars when compared to the previously year supporting more than $266 million in lending to small businesses, compared to more than $254 in fiscal year 2011. This resulted in the highest dollar volume posted by the Fresno SBA office since the recession began. Reflecting national trends 504 loan activity was strong in fiscal year 2012 with 149 loans supporting $98.9 million as compared to 104 loans supporting $51.5 million in 2011.
"These loans demonstrate our continuing partnership with local lenders and collaboration with our vast business development network in meeting the unique financing needs of small businesses in all parts of our jurisdiction. However, there is still work to do. Each SBA lender, business development partner and SBA itself know the continuing challenges when it comes to getting loans in these difficult times, and that’s why it is important that SBA continues to work together with our lenders to facilitate lending to small businesses," said Fresno District Director Carlos G. Mendoza.
The top five most active participating SBA lenders for the Fresno District Office for 2012 were: Wells Fargo with 50 loans and $15.5 million, JP Morgan Chase Bank with 41 loans and $5.1 million, Bank of the Sierra with 22 loans and $7.7 million, Borrego Springs Bank with 19 loans and $10.4 million, and Monterey County Bank with 19 loans and $9.9 million.
The top 10 county lending totals for the Fresno SBA District were: Fresno with 102 loans, Kern (89), San Luis Obispo (84), Monterey (78), Tulare (66), Stanislaus (57), Merced (25), Madera (13), Kings (8), and Tuolumne (7).
For more information about these and other SBA programs, visit the website at www.sba.gov/ca/fresno or contact the Fresno SBA District Office at (559) 487-5791.