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.

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