Small Business Administration loans fell significantly in October after loan fees went up to start the month, but opinions differ about whether the decrease indicates an alarming trend or a statistical anomaly.
Rep. Nydia Vel б zquez (D-NY), the ranking Democrat on the House Small Business Committee, cited SBA data showing that the average daily volume for its 7(a) loan programme dropped 26% to US$51m per day in October from US$69.1m the previous month. Vel б zquez said that if current loan levels persisted for the remainder of the year, the 7(a) program would make only US$10.5bn in loans for the year, down US$2bn from earlier estimates.
