SBA loans double; banks thank economy

An improving economy and flood-relief efforts contributed to a 108 percent increase in Small Business Administration lending in Northern Colorado in fiscal 2013, with total SBA loans jumping to $68 million from $32.5 million in fiscal 2012.

Northern Colorado’s increase dwarfed the increase seen on the state level, even though Colorado saw a record amount of SBA loans in fiscal 2013. The federal government’s fiscal year begins Oct. 1.

Statewide, SBA lending increased 11.5 percent from the previous year to $622.5 million.

In Larimer and Weld counties, 2013 loan levels also were much higher than even those levels reached in 2011, when incentives…