Urban Institute Studies Confirm SBA Loans Fill Market Gap
U.S. Newswire, January, 2008
To: NATIONAL EDITORS
Contact: Christine Mangi of U.S. Small Business Administration, 1-202-205-6948
WASHINGTON, Jan. 17 /PRNewswire-USNewswire/ -- A package of studies released today by the nonpartisan Urban Institute has found that SBA programs are more effective than conventional loans in reaching minorities, women and start-ups, and that SBA loans are a key financing tool for creditworthy small businesses that nevertheless do not meet conventional underwriting standards.
In its most recent fiscal year, nearly a third (32.1 percent) of all SBA-backed loans went to start-up businesses, a third (33.6 percent) went to minority borrowers and 22.3 percent went to women. Overall, loans to businesses in underserved areas - including designated Enterprise Zones,...
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