Release Date: October 19, 2005 Contact: Jan Nienow-(414) 297-1096
Milwaukee/Madison: In Fiscal Year 2005, that ended September 30, 2005, the Small Business Administration in Wisconsin closed out the year with record breaking numbers. In Wisconsin, SBA approved 1,997 7(a) loans totaling $377 million to small businesses, and 197 loans worth $119 million under the 504 or Certified Development Company program. As a result, nearly half a billion dollars in loans went to small businesses in Wisconsin which is an overall increase of 27 percent compared to fiscal year 2004.
Minorities received $50.1 million in 7(a) and 504 financing. SBA guaranteed 489 7(a) and 504 loans to women, representing a 34 percent increase over FY 2004. The total dollar amount for women loans was $71.3 million, representing a 27 percent increase over FY 2004. SBA also guaranteed 169 7(a) and 504 loans to veterans, representing a 26 percent increase over FY 2004. The total dollar amount was $33.9 million, representing an increase of 13 percent over FY 2004. SBA guaranteed 38 International Trade loans which represents a 46 percent increase over FY 2004.
“In fiscal year 2005, Wisconsin lenders increased SBA lending to small businesses to an all time high,” says Wisconsin SBA District Director Eric Ness.” “SBA is proud to be able to provide assistance to small businesses in Wisconsin and help provide economic growth throughout the State through the many entrepreneurs we help.”
