SBA provides $14 million locally
Lenders in the U.S. Small Business Administration's (SBA) Springfield branch office submitted and received SBA guarantees for $14.2 million loans for Barry, Lawrence and McDonald counties for fiscal year 2011, which ended Sept. 30.
In Barry County, 14 loans totaling nearly $5.7 million were approved, followed by Lawrence County, where seven loans totaling $4.6 million were granted. McDonald County received approval of five loans totaling $3.9 million.
This is a portion of the record-breaking number of 422 loans totaling $162.8 million granted in 28 southwest Missouri counties.
Approximately $30 million in loan funding went to 122 start-up businesses. Approximately 150 SBA-backed loans totaling $74.4 million were approved in the first quarter of the 2011 fiscal year and were prompted by the loan enhancements provided under the Small Business Jobs Act of 2010.