On October 21, the U.S. Small Business Administration (SBA) released a state-by-state analysis of the impact of the ongoing federal government shutdown on small business lending. The SBA reported that its core 7(a) and 504 loan programs were frozen due to the ongoing shutdown, preventing the agency from delivering an estimated $170 million in SBA-backed loans to approximately 320 small businesses each business day. From the beginning of the shutdown to October 21 (the date of SBA’s analysis), the SBA estimated that $2.5 billion in loan proceeds had been blocked from reaching approximately 4,800 small businesses across the country. The SBA’s analysis enumerated, by state, the weekly number and value of SBA loans not approved due to the shutdown, with California, Texas, Florida, and New York experiencing the largest amounts of delayed loan proceeds.
[View source.]
