Colorado SBA lenders set record loan amount

Lenders in Colorado issued a record dollar amount of SBA loans during the administration’s fiscal year 2014 that ended Sept. 30, according to the U.S. Small Business Administration.

Nationally, the agency approved 52,044 7(a) loans for $19.19 billion, an increase of 12 percent in number of loans and a 7.4 percent increase in dollar amount compared with fiscal year 2013.

Colorado’s district director Ed Cadena reported a fiscal year 2014 total of 1,441 7(a) and 504 loans, worth $654.3 million, surpassing the previous year’s record level by more than $32 million.

Colorado lenders issued 1,271 loans valued at $531.3 million through the 7(a)…