South Florida District ‘Three-peats’ Capital Success with $1B in Small Business Lending

MIAMI – In the spirit of a well-known Miami dynasty, the South Florida District of the U.S. Small Business Administration now ranks amongst noteworthy companies to have recorded consecutive years of business success. For the third year in a row, the District exceeded $1B in small business lending with this year occurring in record time.

 

As of June 30, the District's government guarantees totaled 2,078 loans for $1.09B in the 24 encompassing counties located south of Orlando.

 

Under the agency’s flagship 7(a) program, the District delivered a total of 1,829 loans for $875M and 249 loans $219M in the 504 loan program. In comparison to same time last year, the District totaled $931M and 1,951 loans.

 

“Access to business capital is one of the most powerful factors fueling the success of our nation’s entrepreneur communities,” said South Florida District Director Francisco “Pancho” Marrero who was recently named to the 2017 South Florida Business Journal’s “Power Leaders in Banking” list, which recognizes top banking and finance executives throughout the tri-county region.

 

“Remaining at the tip of the spear in small business lending is something this agency prides itself on,” he added. “Our District meetings the $1B mark earlier than expected sets us well on the course for beating our FY-16 year-end lending volume of nearly $1.3B.

 

“This accomplishment would not have been made possible without our expansive network of trained lending professionals and hardworking SBA-recognized resource partners.”

 

For information on SBA Loan programs or to see a complete list of year-to-date lending throughout South Florida, visit the District’s website at www.sbs.gov/southflorida.