Louisville, Ky. – Lending from the U.S. Small Business Administration (SBA) is up over 28 percent in Kentucky compared to the same timeframe last year (Oct. 1 – July 31).
SBA loans during this period amount to almost $163 million in Kentucky. The U.S. Small Business Administration’s flagship 7(a) and 504 loan programs already have placed $4.2 billion into the hands of entrepreneurs across the Southeast Region this year, including the SBA Kentucky District Office.
“SBA tweaked its loan programs last year to get more funds into Main Street small businesses,” said SBA Kentucky District Director Ralph Ross. “SBA loans in Kentucky are up dramatically from a solid year in 2014, and small business capital has been flowing to over 160 cities and small towns across the state. Our lending partners, including banks, credit unions, certified development companies (CDCs) and microlenders, have done an outstanding job funding these projects.”