Business Services Industry
SBA-backed lending rises for third consecutive year; total loan amount grow 31%, but blacks, Hispanics, women lag market. (Small Business Administration)
Crain's New York Business, November, 1997 by Flamm, Matthew
Helped by a surge in activity by small business lending companies and a continued focus on small business lending by the major banks, the volume of Small Business Administration-backed loans was up substantially in New York City for the third year in a row. Minority lending, however, was up only slightly, and failed to meet the targets set by the agency's New York office.
According to just-released figures, the SBA backed a record 1,081 loans to small businesses in New York City for the fiscal year ended Sept. 30 - a 7.5% increase over the 1,006 loans the federal agency backed in 1996. In dollar amounts, SBA lending was up by 31%, with $174.1 million given out compared to the $132.7 million loaned in fiscal 1996. Most of those transactions were made in Manhattan -...
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