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SBA August loan approvals hit $86M

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The U.S. Small Business Administration last month approved 216 loans for $86.3 million in New Jersey, according to newly released data from the New Jersey District Office.

As a result, 700 new jobs were created and 912 jobs retained in the state.

Bergen County claimed the highest quantity of loans, the largest sum of original gross loan amount and the most jobs created in a county-by-county breakdown. Essex County, fifth for number of loans overall, boasted the highest number of retained employees.

According to the SBA, from October up to and including last month’s numbers, 2,024 loans totaling $810 million have created over 6,700 jobs and retained almost 8,500 jobs in the state.

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Jessica Perry

Jessica Perry


Jessica is the Web Editor for NJBIZ. You can reach her at jperry@njbiz.com.

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