Springfield SBA tallies second-largest lending year

Following record lending totals in fiscal 2011, the Springfield branch of the U.S. Small Business Administration hit its second-highest total in fiscal 2012.

SBA lending for the fiscal year ending on Sept. 30, 2012, totaled $151 million, 0.07 percent behind the record $162.6 in fiscal 2011. Serving a 28-county area, the office closed on 385 guaranteed loans to borrowers in fiscal 2012, compared to 422 in fiscal 2011.

Springfield Branch Manager Suzanne Stearman said SBA-backed lending in the new fiscal year continues to rebound, with 105 loans approved for a total of $30.4 million through Feb. 1.

Nationally, SBA lending in fiscal 2012 topped out at 53,847 loans with more than $21 billion in approved loan volume, compared to 61,689 loans and $24.48 billion in fiscal 2011.

For the full story, read the Feb. 15 digital edition or the Feb. 18 print edition of Springfield Business Journal.