The U.S. Small Business Administration (SBA) approved 1335 loans for Indiana small businesses in the 7(a) and 504 programs in Fiscal Year 2022 (FY 22) ending September 30th. These SBA-backed loans provided more than $650 million directly to entrepreneurs and supported over $925 million that they used to start, grow and expand their Indiana-based businesses. This supported dollar amount showed an increase over 2021 supported loan figures. SBA Indiana District Director Stacey Poynter says this reflects the strong partnerships SBA enjoys with lenders, their dedication to providing funds to burgeoning entrepreneurs and their faith that small business growth is bouncing back.
“This record supported lending volume occurred in our core loan programs which are designed to help small businesses start, grow, build and expand,” Poynter said. “During FY 22, SBA helped Indiana entrepreneurs access over $925 million through our traditional 7(a) and 504 loan programs—an increase of $15 million, from FY 21 totals. The 504 loan volume saw an incredible 32% increase in FY 22 over the FY 21 record year. We couldn’t have achieved these record numbers without the hard work and dedication to small business growth from our SBA lending partners. We are grateful for their support and look forward to the continued growth of this collaborative partnership.”
In addition to announcing the record dollar volume of SBA-backed loans to Indiana businesses, the Indiana District Office is pleased to recognize some of the most active lenders across the state by presenting our annual SBA Indiana Lender Awards. Lenders in the following categories are being recognized for their outstanding efforts in FY 22:
COVID relief loan programs, including the Paycheck Protection Program and the COVID Relief Economic Injury Disaster Loan program are not included in these numbers. For more information on SBA-backed loans and small business resources for Indiana entrepreneurs go to Indiana | U.S. Small Business Administration (sba.gov).
