Small business loans hit record high at big banks nationwide, bounce back to pre-shutdown levels at SBA as commercial lending experts connect small businesses with funding in 2019
Los Angeles, CA (February 18, 2019)—After being shuttered for nearly a month due to the Federal Government Shutdown, the Small Business Administration is back on track with its SBA lending. That’s good news for small businesses nationwide.
According to reports, the percentage of SBA loans approved by the Small Business Administration in January 2019 dropped just one percent month-over-month, despite the fact that the organization was closed for almost the entire month of January. Meanwhile, small business loan ratings at big banks hit 27% in January—a high not seen since the start of the Great Recession.
Most entrepreneurs and small businesses require financing at some stage in order to launch or expand their operations. Cornerstone Capital Lending offers accessible funding for a variety of businesses in the form of USDA, conventional and SBA loan options in order to satisfy their clients’ needs and business goals. That includes the SBA 7A loan, widely considered the administration’s flagship loan program, which received its name from Section 7A of the Small Business Act of 1953.
In 2018, the SBA granted more than 60,000 SBA 7A loans totaling almost $25.4 million, according to the Congressional Research Service. The average greenlighted SBA 7A loan was $420,401.
“We’re thrilled to be able to provide the highest level of efficiency and support every step of the way as we help businesses identify the ideal funding for their unique needs,” said Cornerstone Capital Lending CEO, Girish Bajaj. “Our reputation and success is built on our ability to achieve those goals for our clients.”
Cornerstone Capital Lending offers a variety of financing options for U.S. businesses, including:
- SBA 7A loans
- SBA 504 loans
- Conventional funding options
Cornerstone Capital Lending is a nationally-recognized leader in commercial financing based in Los Angeles and has helped businesses across industries secure conventional financing and SBA 7A loans:
- Car wash loans
- Auto repair financing
- Gas station loans
- SBA financing for daycare
- Commercial building financing
- SBA financing for industrial property
- Warehouse financing
- Self-storage financing
- SBA financing for auto repair
- Restaurant financing
About Cornerstone Capital Lending
Investors across the country turn to Cornerstone Capital Lending for funds they need to grow their businesses. Over 50 years of combined industry experience makes this team a first choice for commercial real estate projects and capital for ventures of all sizes. Cornerstone Capital Lending works directly with lenders and maintains mutual relationships with banks, hedge funds, life companies and private investors nationwide to provide a broad portfolio of financial products that meet the majority of capital requests.