SBA News Release - FRESNO –The U.S. Small Business Administration (SBA) Fresno District Office guaranteed loans in excess of $46.9 million to central California small businesses during the first quarter of its fiscal year from October 1, 2009 through December 31, 2009. This is an increase of 60% in dollar value of loans when compared with the first quarter period in 2008.
“This also represented a 65% increase in the total number of loans made to small businesses during this period. We think this is a good sign for the Central California economy and hope that the trend continues in the coming months,” said Carlos G. Mendoza, SBA Fresno District Director. The Fresno District Office services the 15 counties of Central California.
Loan sizes during this period ranged from $4,000 up to $2.0 million for inventory, working capital, building construction and equipment and machinery. Examples of businesses receiving SBA guaranty loans included auto repair services, scientific and technical services, retail shops, manufacturing companies and full service restaurants. Fifteen percent of the first quarter loans went to assist new small businesses or businesses up to two years old.
To serve budding entrepreneurs as well as existing small business owners SBA’s Fresno District Office offers many different training programs through the Small Business Development Center Network, SCORE and Women’s Business Centers. For more information on available sources of counseling and training go to www.sba.gov/ca/fresno or contact the Fresno SBA office at (559) 487-5791.