Oct 30 2015

Fresno SBA Workplace Tops $415 Million In Small-business Loans

Practically 800 small companiessmall companies across Central California got loans through programs backed by the US Small Business Administration in the federal financial year that ended Sept. 30, marking the highest loan volume approved by the SBA’s Fresno district workplace because 2009.

The Fresno workplace manages SBA financing in 15 counties from the Central Coast to the Sierra Nevada, including the San Joaquin Valley. The loans totaled up to an overall value of more than $415.5 million.According to Carlos

Mendoza, the Fresno district director, the 778 loans were made under two SBA programs: one offering broad monetary support for brief- and long-lasting capital requirements, exports and financial obligation refinancing, and another support long-lasting financing to purchase land or equipment or buying or renovating buildings. The loans are made by banks or other loan providers and guaranteed by the SBA.About one-third of the loans were made to minority

company owners, the SBA reported. Fresno County led the district in loan volume, with a total of 175 loans, and value, with those loans amounting to more than$89.1 million.Across the area, the loans were expected to allow little companiessmall companies to

keep or produce more than 11,000 jobs.