Loans approved through the local office of the U.S. Small Business Administration are off to a slow start in the new fiscal year.
A summary from the Buffalo District Office shows that just 35 loans were approved in October through the SBA's popular 7(a) lending program. That's down 45.3 percent from October 2017 when 64 7(a) loans were approved in the 14-county district.
Total dollars are trailing too, ending the month at $7.5 million. That's down 52.3 percent from $15.6 million a year ago.
