SBA loans spike in December

Following a national trend, commercial loans guaranteed by the U.S. Small Business Administration boomed in the Milwaukee area during December – there were 158 SBA-backed loans totaling almost $98.4 million last month, compared to 72 loans in December 2009 that totaled $12.25 million.

Some of the largest loans last month included:

  • $5 million to Wisconsin Plastic Products in Plymouth
  • $2.3 million to Xten Industries Inc. in Kenosha
  • $1.7 million to Spillius Inc. in Brookfield
  • $3 million to Rehab Tech Inc. in Oak Creek
  • $3 million to Neosho Trompler Inc. in Hartland
  • $3.1 million to Nature Tech LLC in Milwaukee
  • $3.8 million to National Technologies Inc. in Oak Creek
  • $3.6 million to DHP LLC in Sheboygan
  • $2.8 million to Create A Pack Inc. in Oconomowoc
  • $5 million to B.R. Amon & Sons Inc. in Elkhorn

Across the country, the SBA approved more than $10.3 billion in loan guarantees between Sept. 27 and Dec. 31, 2010. The $10.3 billion in loan guarantees supported more than $12 billion in lending, the SBA said.

During the week of Dec. 18 to Dec. 24, the SBA guaranteed a record high of $1.95 billion in small business loans, the agency said. It was the highest amount since the SBA began tracking weekly loan volumes.

 

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