ATLANTA – The Small Business Administration of Georgia’s District Office announces the Fiscal Year 2022 loan approval activity.
The U.S. Small Business Administration’s Georgia District Office has released SBA loan approval activity in the state for federal Fiscal Year (FY) 2022. From October 1, 2021 through September 30, 2022, over 1,700 traditional loans and microloans were approved for more than $1.4 billion in funding to small businesses throughout the state.
“Georgia is one of the top 10 states in the nation for the SBA helping small business owners access the necessary capital to help them start, grow, or expand their enterprises.” said Terri Denison, Georgia District Office director. “Since the pandemic, more people know about the SBA and we’re committed to expanding our network of lenders and lending footprint across the state with our established programs.”
FY 2022 SBA loan program summary:
- 7(a) Loan Program: 1,363 loans approved for $1,160,776,800, including 22 Community Advantage loans for $3,907,000
- 504 Loan Program: 228 loans approved for $267,306,000
- Microloan Program: 118 loans approved for $3,475,352
The Georgia District’s top 10 lenders for the 7(a) and 504 programs by approval amounts include:
|7(a) Lenders||Approval Count||Approval Amount|
|Metro City Bank||38||$80,943,700|
|Live Oak Banking Company||35||$49,655,300|
|Newtek Small Business Finance, Inc.||72||$48,681,000|
|First IC Bank||23||$42,807,000|
|Georgia’s Own CU||34||$35,272,900|
|Embassy National Bank||15||$31,645,600|
|504 Lenders||Approval Count||Approval Amount|
|Capital Partners Certified Development Company||62||$83,954,000|
|Florida Business Development Corporation||67||$79,476,000|
|Georgia Certified Development Corporation||21||$33,162,000|
|Small Business Access Partners, Inc.||30||$29,920,000|
|CSRA Local Development Corporation||22||$18,529,000|
|Small Business Assistance Corporation||8||$8,002,000|
|Coastal Area District Development Authority, Inc.||7||$7,145,000|
|Florida First Capital Finance Corporation, Inc.||7||$3,911,000|
|Southern Georgia Area Development Corporation||3||$1,678,000|
|Sunshine State Economic Development Corp.||1||$1,529,000|
The Georgia District also ranked in the top 10 states for trade financing. More than $33 million was financed for small business exports. The SBA’s Small Business Investment Company program financed $199.9 million to 28 small businesses in Georgia in FY 2022.
For more information about SBA’s loan programs, financial assistance, and other services in Georgia, visit http://www.sba.gov/ga/.