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Thanks to a slowing economy, SBA loans have been growing in popularity

As interest rates continue to increase and fears of a recession loom, it is becoming harder for some small businesses to get financing.


However, one very good option remains: the U.S. Small Business Administration. Thanks to a slowing economy, SBA loans have been growing in popularity. In 2022 the agency approved about 57,000 loans totaling $35 billion, with about $1 billion specifically in Illinois and the numbers are already increasing so far in 2023.



 
 

HARVEST SMALL BUSINESS FINANCE, LLC HEADQUARTERS, 24422 AVENIDA DE LA CARLOTA, SUITE 400, LAGUNA HILLS, CA 92653​. SBA 7A LOANS MADE OR ARRANGED PURSUANT TO A CALIFORNIA FINANCE LENDERS LAW LICENSE NUMBER 60DBO-52244. SBA 504 AND CONVENTIONAL LOANS MADE OR ARRANGED PURSUANT TO A CALIFORNIA FINANCE LENDERS LAW LICENSE NUMBER 60DBO-53525. © 2025 HARVEST SMALL BUSINESS FINANCE.  ALL RIGHTS RESERVED.

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