BOSTON – The U.S. Small Business Administration proclaimed that its fiscal 2012, which ran from Oct. 1, 2011 through Sept. 30, was a “banner year” for the agency.
The group provided $1.4 billion in loans to New England small businesses, backing 4,119 loans in the six New England states.
Rhode Island's Market Has Changed. Developers, Builders, Investors and Sellers Must Change With It.
By Emilio DiSpirito IV License Partner | Engel & Völkers Oceanside Leader | The DiSpirito…
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According to the SBA, the Certified Development Company/504 Loan Program outshined all expectations this past year with 636 projects totaling $869 million in loans supported. The temporary refinancing provision which expired in September, was partially responsible for the record year.
In addition, the SBA booked 180 microloans totaling $4.5 million through its intermediaries located throughout New England.
The SBA also guaranteed 3,314 loans through its flagship 7(a) Loan Guaranty Program for a total of $557 million.
