Posted October 31, 2013 01:38 pm

Augusta business borrowing up in 2013

Small business borrowing in Richmond and Columbia counties was higher this year.

 

The U.S Small Business Administration backed $22.5 million in loans to 35 client businesses in the two counties during the SBA’s fiscal year 2013, which just ended in September.

 

In fiscal year 2012, the SBA backed $19.7 million in business lending in the two counties – 37 different project loans – for capital to start or expand businesses.

 

The numbers include both the SBA 7(a) loans for small businesses and entrepreneurs in underserved communities and the SBA 504 loan for assets and equipment.

 

Fiscal year 2011 was a heavier borrowing year, $38.2 million, which was higher across the nation because of fee waivers and refinance programs under the Small Business Jobs Act.

 

The numbers come from the Georgia District Office in Atlanta, which reports 210 of the SBA 504 loans in the state for 2013, totalling $158.8 million. In the other loan program, Georgia accounted for $1 billion in loan volume.

 

WAITING FOR NUMBERS: Because of the federal government shutdown, there were no September unemployment numbers released in October.

 

The Georgia Department of Labor gets data from the feds, so it wasn’t able to process jobless data as normal.

 

So the September numbers will come out with the October numbers, which will be released on Nov. 21 – that’s the state jobless rate and local business employment – and Nov. 28 – that’s the normal metro and county unemployment rates.