Sunday, July 21, 2024 | Baltimore, MD
Baltimore, MD
Partly Cloudy

Live Oak, M&T Bank top list of Greater Washington’s largest SBA lenders

October 10, 2023

At a time when banks’ lending standards are tightening, loans backed by the U.S. Small Business Administration are proving to be a critical lifeline for small businesses across Greater Washington. In fiscal year 2023, which ended Sept. 30, lenders issued 742 loans backed by the SBA’s 7(a) program, up 27% from the previous fiscal year, according to newly released data. In the same period, the total dollar value of those loans climbed 13% to $297 million.

Article Source: Washington Business Journal

The Morning Rundown

We’re staying up to the minute on the issues shaping the future. Join us on the newsletter of choice for Maryland politicos and business leaders. It’s always free to join and never a hassle to leave. See you on the inside.