November 19 2004 Copyright 2004 Business Research Services Inc. 202-364-6473 All rights reserved.

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SBA Trumpets Successes of Assistance, Loan Programs

SBA says more than 2.44 million people interested in starting or expanding a business or consulted with one of its technical assistance programs during fiscal 2004, a record for the agency’s programs.

The most popular technical assistance program was the Small Business Training Network/E-Business Institute, which offers 80 free online courses, workshops and resources in a virtual campus setting. The Training Network website recorded almost 958,000 users during the year.

SBA’s financing programs produced a record level of investment in 2004, lending record amounts of money in both the flagship 7(a) and 504 loan programs, despite being shut down for several weeks in December and January because Congress was late in approving their appropriations. The programs made more loans than ever before to women, minorities, and veterans.

SBA provided $19.29 billion in loans and venture capital financing for 87,800 small businesses in fiscal 204, compared to $15.24 billion for 71,200 companies the previous year.


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