The U.S. Small Business Administration reports that federally backed loans hit another record in Arizona. Through August, the SBA backed 1,814 7(a) loans worth $395.9 million used for capital. In fiscal 2005, the Arizona SBA office provided guarantees for 2,057 commercial loans worth $828.7 million. Only 93 microloans for less than $35,000 were made this year. They totaled $663,400.
For more information: www.sba.gov.