SBA sets record for lending in Colorado, nationwide

DENVER — Small Business Administration lending in Colorado reached all-time record levels during the SBA’s fiscal year that ended Sept. 30, the administration announced earlier this week.

In Colorado, 1,754 7(a) and 504 loans, worth $701 million, were approved, surpassing the previous year’s record level by 313 loans and $47 million.

Nationally, the SBA set an all-time record for lending by approving 63,000 7(a) loans totaling $23.6 billion; an increase of 22 percent in number of loans and 23 percent for total dollars. It also approved 5,787 loans worth $4.3 billion through its 504 program.

The 7(a) program provides small businesses with loans…