Connecticut SBA reports over $305M in guaranteed financing during FY2022

The U.S. Small Business Administration”™s (SBA) Connecticut District Office reached over $305 million in lending to small businesses through more than 791 traditional loans during Fiscal Year 2022, which spanned October 2021 to September 2022.

During the fiscal year, the office guaranteed $234.7 million in 7(a) loans to 636 Connecticut small businesses, supporting 5,934 jobs. It also guaranteed $70.8 million in 504 loans to 104 small businesses, supporting 737 jobs; 504 third party lending totaled $94.6 million. The office also guaranteed $1.3 million in microlending loans funding 51 small businesses, supporting 206 jobs.

“We salute our lenders and partners who collaboratively posted another solid year. Our flagship programs 7(a), 504 and Microloans continue to grow, offering financial instruments for businesses in need of short-and long-term working capital, financing for major fixed assets and more ”“ all to promote growth and job creation”™ stated Catherine Marx, director of the SBA Connecticut District.