Tue 16 Feb 2010
SBA quarter one results are in…
Posted by Kenny Leonard under Small Business
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Kenny Leonard
After a large decline in SBA lending last year in the state of Michigan due to the tumultuous conditions in the credit markets, I am pleased to report an 80% increase in SBA loan volumes through the first fiscal quarter in 2010 (10/1/09-12/31/09) and a 147% increase in loan dollars throughout the state. I am proud to report that United’s affiliate United Structured Finance Company (USFC) is once again the number one lender in Washtenaw, Lenawee and Livingston counties.
That being said we are still committed to doing more for our community and our local businesses. With the reinstatement of provisions in the American Reinvestment and Recovery Act, both the temporary elimination fees and the 90 guaranty we anticipate continued growth in our SBA lending.
Legislation is pending to extend both of these provisions throughout the remainder of the calendar year as well as an increase in the maximum SBA loan amounts.
There is no doubt that our local businesses serve a vital role in our state’s economic success and we are committed to utilizing these SBA programs to assist our state in this economic recovery.
Join us on March 17 at 11:00am for a FREE webinar as we discuss recent market condition and provide tips on navigating the small business lending arena. Register today!
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