SBA-backed loans double in Georgia
In the past three months, the Small Business Administration has approved 410 loans in Georgia, roughly double the number from the same period a year ago, according to spokesman James Hightower.
Georgia companies received $218.7 million in SBA-backed loans during the past three months, compared to just $92 million a year earlier.
Of course, that is not enough to turn the tide in the state’s $390 billion-a-year, 3.8 million-employee economy. But every job created is a paycheck that hadn’t been there before.
If the SBA loans in Georgia were spread through the economy, where the average pay is $43,000 a year, the money would cover 5,000 more jobs.
About the Author
Michael E. Kanell, the AJC's economics writer, has been reporting on jobs, housing and the economy at the AJC for nearly two decades. He has appeared on television and radio to analyze and report on business and economic developments.
