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SBA loan statistics. According to the SBA, at the end of 2023 fiscal year:. $27.5 billion in SBA 7(a) loans was approved. Almost 70 percent of 7(a) loans were for amounts under $350,000
Disaster Relief Loans are often approved within 21 days. This is an improved approval time than after Hurricane Katrina, over 15 years ago, when the SBA processed applications in about 74 days on average. If a business with a Disaster Relief Loan defaults on the loan and the business is then closed, the SBA will pursue the business owner to ...
According to the SBA weekly summary report, fewer than 60,000 businesses were approved for 7(a) loans in 2023 — and only around 6,000 SBA loans were approved for 504 loans, highlighting how the ...
Jan. 21—The U.S. Small Business Administration has distributed more than $257.3 million in disaster loans for 1,391 applicants who sustained property damage from the Aug. 8 wildfires and high ...
According to a news release, Francisco Sánchez Jr., associate administrator for the Office of Disaster Recovery and Resilience at SBA, announced April 26 that SBA will close its Disaster Loan ...
Emergency Disaster Loan Program. When a county has been declared a disaster area, by either the President or the Secretary of Agriculture, farmers in that county may become eligible for low-interest emergency disaster ( EM) loans under the Emergency Disaster Loan Program . The loans are available through the Farm Service Agency (formerly ...
For further assistance, individuals can contact the SBA disaster assistance customer service center by email at disastercustomerservice@sba.gov or by phone at 1-800-659-2955. The DLOC at the ...
You can apply online using the Electronic Loan Application (ELA) on the SBA's secure website at disasterloanassistance.sba.gov/ela/s/. Disaster loan information and application forms can also be ...