In July, banks in southeastern Wisconsin made about $6.7 million in commercial loans backed by the U.S. Small Business Administration (SBA), a 53 percent decrease from the $14.3 million in SBA-backed loans from July, 2009.
In July, 2009, there were almost 100 SBA-backed loans made in southeastern Wisconsin. This July, there were 42.
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In the height of the Great Recession, federal stimulus funds flowed into the SBA, fueling the agency’s loan levels. As stimulus funds expired during the second quarter of this year, SBA lending fell off.
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The loans approved in July include:
- $1.66 million to Wauwatosa-based Fi-Med Management Inc.
- $631,300 to Hartland-based Cardinal Service Inc.
- $594,000 to Pewaukee’s D&P Foods Inc.
- $350,000 to Technology Resource Advisors Inc. in Milwaukee.
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