SBA backs 326 loans to Small Businesses in Dallas/Fort Worth District
The U. S. Small Business Administration, Dallas/Fort Worth (DFW) District Office approved 326 loan guarantees for a value of $160 million. This represents a decrease of 9.4% and 21.7% respectively in units and dollars for the same period last year.
In October and November, the DFW District approved 204 loans for $98 million. “My expectation is that lending will increase over the next few months due to the waiving of fees on certain loans” said Herbert Austin, SBA’s DFW District Director. The SBA has started waiving fees that borrowers pay on loans of $150,000 and less, which began on October 1st. “This will help meet our goal of $1 billion in loans and bring the number of loan units up for this district in FY 2014
In FY 2013, the DFW District had its second record year putting more than $813 million in the hands of 1,522 entrepreneurs and small business owners to start or expand their business.
“We are fortunate to have a very supportive and vibrant lending community in the DFW District servicing area,” said Austin. “They show a strong commitment to strengthening our nation’s economy by providing financing to help small businesses start and grow by retooling their operations, purchasing new inventory or hiring new employees
For more information about all of the SBA’s programs for small businesses, visit www.sba.gov.