Recovery Program Performance Report: April 2010
Summary
The SBA Recovery Program Performance Report for April 2010, setting program targets against actual results as of April 30, 2010 for the 7(a), 504, ARC, microloan and surety bond programs funded under the Recovery Act; the Recovery Act period is given as Feb. 17, 2009 to Sept. 30, 2010. Approved 7(a) loans totaled $14,335,060,735 against a target of $14,400,000,000, with an estimated 536,829 jobs against a target of 509,250. Approved 504 loans totaled $5,241,447,000 against $5,500,000,000, ARC loans $237,398,423 against $335,000,000, and surety bid bonds issued $319,031,000 against $114,000,000. The report says funding will support approximately $14.4 billion in 7(a) loans, $5.5 billion in 504 loans, $335 million in ARC loans and $46 million in loans to Microlenders.
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Recovery
Program Performance Report
April 2010
April 2010
Recovery – Program Performance Report
The Recovery Act period is from
Feb. 17, 2009 to Sept. 30, 2010
Actual as of
Program Metric Program Target April 30, 2010 Recovery loans include loans funded by
7(a) Recovery Loans Approved, ($) 1 $14,400,000,000 $14,335,060,735 the Recovery Act and subsequent
Jobs Created/ Retained, Estimated 2 509,250 536,829 extensions
504 Recovery Loans Approved, ($) 1 $5,500,000,000 $5,241,447,000
Jobs Created/ Retained, Estimated 2 109,250 97,343 Footnotes :
ARC Loans Approved ($) $335,000,000 $237,398,423 1 This is the total gross loan value approved.
Jobs Created/ Retained, Estimated 55,500 54,595 Typically, due to cancellations and loan size
reductions, 15 – 20% of gross approval s are not
Microloans Loans Approved by Microlenders ($) $32,300,000 $2,238,938 disbursed. Funding associated with cancelled
Jobs Created/Retained, Estimated 2 9,800 445 loans is made available to approve new loans.
Surety Bonds Bid Bonds Issued Over $2M, $ $114,000,000 $319,031,000 2 Data is self-reported by the borrower and appears
Final Bonds Issued Over $2M, $ $33,000,000 $88,031,000 in the SBA loan application form.
Jobs Created/ Retained, Estimated 4 • Microlenders have two years from date of their loan
220 407
approval to make loans to Microborrowers.
1 Data is calculated using historical ratios. The
surety bond application form is being revised to
collect this information from the applicant.
Program-to-Date Recovery Loans Approved out of Total Recovery Loan Approvals Available*
7(a) Loans 504 Loans ARC Loans Microloans
$4.0 $240 to Microlenders
$10.0 $3.2 $4.8 $192
$8.0 $288 $32
$12.0 $26 $40
$6.0 $2.4 $144 $335
$14.4 $5.5
$20 $46
$4.0 $1.6 96
$12
$2.0 $0.8 $48
$6
$0 $0 $0 $0
Dollars in Billions Dollars in Billions Dollars in Millions Dollars in Millions
*Recovery funding will support approximately $14.4 billion in 7(a) loans, $5.5 billion in 504 loans,
$335 million in ARC loans, and $46 million in loans to Microlenders. 2
April 2010
Recovery – Program Performance Report
Percent* of Recovery Program Targets Achieved as of April 30, 2010
Final Bonds Lapsed Time =67%
2 3
Jobs Created/ Retained, Estimated 89% Jobs Created/ Retained, Estimated 185%
Surety Bonds
504
1
Recovery Loans Approved, ($) 95% Final Bonds Issued Over $2M, $ 267%
2
Bid Bonds Issued Over $2M, $ 280%
Jobs Created/ Retained, Estimated 105%
7(a) Bid Bonds
0% Lapsed Time = 72%
50% 100% 150% 200% 250% 300%
1
Recovery Loans Approved, ($) 100%
* The government-wide Recovery Act period is from February 17,
0% 20% 40% 60% 80% 100% 120% 140% 160% 2009 to September 30, 2010. However, certain programs were
Lapsed Time = 74%
not available until a later date. Thus, the lapsed time refers to
the period between the program start date and the end of the
Jobs Created/ Retained, Estimated
2
98%
Recovery Act period. The program start dates are:
• 7(a) & 504: February 17th, 2009
ARC
• Surety Bid Bonds: March 27th, 2009
Loans Approved ($) 71%
• Surety Final Bonds: June 27th, 2009
0% 20% 40% 60% 80% 100% •Companies use bid bonds when they bid on contracts and
Lapsed Time = 68% use final bonds for contracts awarded. As a result, issuance of
Final bonds lag Bid bonds.
Jobs Created/Retained, Estimated 5%
• ARC : June 15th, 2009
Microloans
2
• Microloans: July 31st, 2009
Loans Approved by Microlenders ($) 7%
Footnotes :
1 This is the total gross loan value approved. Typically, due to cancellations and loan
0% 20% 40% 60% 80% 100%
size reductions, 15 – 20% of gross approval value does not get disbursed.
Lapsed Time = 64% 2 Data is self-reported by the borrower and appears in the SBA loan application form.
3 Data is calculated using historical ratios. The surety bond application form is being
revised to collect this information from the applicant.
3
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