Recovery Act — Program Performance Report, July 2009 (U.S. Small Business Administration)
Summary
A U.S. Small Business Administration chart report, Recovery Act — Program Performance Report, July 2009, showing the percent of Fiscal Year 2009 Recovery Act program targets achieved as of July 31, 2009 for 7(a) and 504 loans, ARC loans and surety bonds. Footnotes state that the loan figure is the total gross loan value approved, that typically 15 — 20% of gross approval value does not get disbursed, and that jobs data is self-reported by the borrower or calculated using historical ratios. The Surety Bond program was implemented on March 27, 2009; the chart shows 170% for bid bonds issued and 43% for final bonds issued, and final bonds were not expected to be issued until June.
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.S. Small Business Ad Recovery Act Program Performance Report July 2009 JULY 2009 Recovery Act — Program Performance Report U.S. Small Business Administration Percent of Fiscal Year 2009* Recovery Act Program Targets Achieved as of July 31, 2009 E * The Fiscal Year 2009 Recovery Act period is from REY PO Ree wen February 17, 2009 to September 30, 2009. However, 3 certain programs were not available until a later date. Recovery Act Loans Approved: ina: oun Thus, the lapsed time refers to the period between the program start date and the end of the 2009 Fiscal 2 Year. Jobs Created/ Retained, Estimated 97 7(a) & 504: February 17-September 30% ARC : June 15' — September 30% Surety Bid Bonds: March 27‘ — September 30 e 1 Recovery Act Loans Approved, $M 100% on 20% son “on SO% 100% 120% 140% 160% Jobs Created/ Retained, cetieeiedl | 6 * The Surety Bond program was implemented on March 27, 2009. Companies use bid bonds when they bid on contracts and use final bonds for contracts awarded. As a result, issuance of Final Loans Approved, SM |_| ie bonds lag Bid bonds. Final bonds were not expected to be issued until June. o% 20% 40% 60% 80% 100% ¢ Microloans made with Recovery Act funds ZDV1 ARC 3 Jobs Created/ Retained, Estimated Footnotes : 1 This is the total gross loan value approved. Typically, due to cancellations and loan size reductions, 15 — 20% of gross approval value [Final Bonds Lapsed Time = 36%|| does not get disbursed. 2 Data is self-reported by the borrower and Bid Bonds Issued Over $2M, $M 170% appears in the SBA loan application form. 3 Data is calculated using historical ratios. The surety bond application form is being revised O% 20% 40% 60% 80% 100% 120% 140% 160% 180% 200% y PP. g Final Bonds Issued Over $2M, $M 43% Surety Bonds to collect this information from the applicant. [Bid Bonds Lapsed Time = 67%|
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