The U.S. Small Business Administration said it loaned $20.6 billion in 110,000 small business loans during its 2007 fiscal year.
The number of loans and the amount borrowed were both records for the administration, and do not include the $2.65 billion in venture capital funding provided by the administration to more than 2,000 companies.
According to the administration, nearly a third of all its loans went to start-up companies and another third went to minority borrowers, which saw an increase of 23 percent among African American-owned businesses.
SBA loan programs have set records for the past six years, and the administration has doubled the number of loans provided since 2000.
