SBA loans in Maine increased by 22% in FY15
The number of loans provided the U.S. Small Business Administration in Maine grew by 22% in the most recent fiscal year over 2014.
The federal agency said Wednesday that the number of SBA loans in Maine totaled 539 in fiscal year 2015 compared to 441 in FY14. The total dollar amount also increased from $103.3 million in 2014 to $109.6 million in 2015.
The highest number of loans were made to retail companies and lodging or food service companies, with 80 and 79 loans in FY15, respectively. The next highest industries were construction, manufacturing and health care, the SBA said.
“We are delighted to have such robust growth in Maine,” SBA Regional Administrator Seth Goodall said in a statement. “These numbers indicate that capital is available to small businesses across the business spectrum, and the Small Business Administration is playing a vital role in delivering that capital to them.”
The total number of SBA loans in Maine has increased every year since 2012, with 358 total loans in 2012 and 422 loans in 2013. The total dollar amount of SBA loans in Maine also increased by 6% over FY2014, with $109,623,702 in capitalization vs $103,321,040 in FY2014.
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