U.S. Small Business Administration loans in Iowa were down in 2013 both in quantity and in dollar amount, according to numbers released by the SBA yesterday.
For fiscal year 2013, the SBA approved 525 loans to Iowa small businesses worth $194.8 million. In fiscal year 2012, the SBA approved 592 loans worth $252.1 million.
The decline is consistent with the national trend. Nationally, the SBA gave out $29.6 billion in 54,106 loans, down from $30.25 billion in 53,848 loans a year ago.
Still, lending was the third-highest amount to date, surpassed only by the prior two fiscal years. Acting SBA Administrator Jeanne Hulit, in a news release, credited President Barack Obama. Since Obama took office, the SBA has supported more than $126 billion in lending to more than 260,000 small businesses and entrepreneurs.
The SBA gave out 103 loans worth $33.9 million in Polk County - both numbers were the highest of any county in the state. Warren County received 15 loans worth $5.1 million, and Dallas County received six loans worth $683,500.