Recovery Program Performance Report: February 2010
Summary
The SBA Recovery Program Performance Report for February 2010, setting program targets against actual results as of February 28, 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 $11,888,091,735 against a target of $11,100,000,000, with an estimated 456,256 jobs against a target of 384,200. Approved 504 loans totaled $4,487,070,000 against $4,520,000,000, ARC loans $204,668,551 against $335,000,000, and surety bid bonds issued $236,700,000 against $114,000,000. The report says funding will support approximately $11.1 billion in 7(a) loans, $4.5 billion in 504 loans, $336 million in ARC loans and $46 million in loans to Microlenders.
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Recovery
Program Performance Report
February 2010
February 2010
Recovery – Program Performance Report
The Recovery Act period is from
Feb. 17, 2009 to Sept. 30, 2010
Actual as of
Program Metric Program Target February 28, 2010 Recovery loans include loans funded by
7(a) Recovery Loans Approved, ($) 1 $11,100,000,000 $11,888,091,735 the Recovery Act and subsequent
Jobs Created/ Retained, Estimated 2 384,200 456,256 extensions
504 Recovery Loans Approved, ($)1 $4,520,000,000 $4,487,070,000
Footnotes :
Jobs Created/ Retained, Estimated 2 66,200 84,279 1 This is the total gross loan value approved.
ARC Loans Approved ($) $335,000,000 $204,668,551 Typically, due to cancellations and loan size
reductions, 15 – 20% of gross approval s are not
Jobs Created/ Retained, Estimated 55,500 48,542 disbursed..
Microloans3
Loans Approved by Microlenders ($) $32,300,000 $1,430,263 2 Data is self-reported by the borrower and appears
in the SBA loan application form.
Jobs Created/Retained, Estimated2 9,800 298
3 Microlenders have two years from date of their loan
Surety Bonds Bid Bonds Issued Over $2M, $ $114,000,000 $236,700,000 approval to make loans to Microborrowers.
Final Bonds Issued Over $2M, $ $33,000,000 $67,540,000 4 Data is calculated using historical ratios. The
surety bond application form is being revised to
Jobs Created/ Retained, Estimated 4 220 347 collect this information from the applicant.
Program-to-Date Recovery Loans Approved out of Total Recovery Loan Approvals Available*
*Recovery funding will support approximately $11.1 billion in 7(a) loans, $4.5 billion in 504 loans,
$336 million in ARC loans, and $46 million in loans to Microlenders. 2
February 2010
Recovery – Program Performance Report
Percent* of Recovery Program Targets Achieved as of January 31, 2010
Final Bonds Lapsed Time =53%
2 3
1
2
1 Bid Bonds Lapsed Time = 61%
* The government-wide Recovery Act period is from February 17,
Lapsed Time = 64% 2009 to September 30, 2010. However, certain programs were
not available until a later date. Thus, the lapsed time refers to
the period between the program start date and the end of the
2 Recovery Act period. The program start dates are:
• 7(a) & 504: February 17th, 2009
• Surety Bid Bonds: March 27th, 2009
• Surety Final Bonds: June 27th, 2009
•Companies use bid bonds when they bid on contracts and
Lapsed Time = 55% use final bonds for contracts awarded. As a result, issuance of
Final bonds lag Bid bonds.
• ARC : June 15th, 2009
2
• Microloans: July 31st, 2009
Footnotes :
1 This is the total gross loan value approved. Typically, due to cancellations and loan
size reductions, 15 – 20% of gross approval value does not get disbursed.
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
Lapsed Time = 50%
revised to collect this information from the applicant.
3
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