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January 5th, 2009
Posted: 05:17 PM ET
By Emily Maltby In the first quarter of its 2009 fiscal year, which ended December 31, the SBA’s 7(a) program backed 8,996 loans. That’s a 57 percent drop from the 20,859 loans the SBA backed in the first quarter of 2008, and a 62 percent drop from 2007’s first-quarter total. The total dollar value of loans processed by the SBA also plummeted to $1.94 billion, down 40 percent from last year’s $3.24 billion. |
 
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