Recovery Program Performance Report: January 2010
Summary
The SBA Recovery Program Performance Report for January 2010, setting program targets against actual results as of January 31, 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 $8,749,552,012 against a target of $11,100,000,000, with an estimated 413,265 jobs against a target of 384,200. Approved 504 loans totaled $4,082,362,000 against $4,520,000,000, ARC loans $184,796,519 against $335,000,000, and surety bid bonds issued $202,820,000 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 $46 million in loans to Microlenders.
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Recovery
Program Performance Report
January 2010
January 2010
Recovery – Program Performance Report
The Recovery Act period is from
Actual as of Feb. 17, 2009 to Sept. 30, 2010
Program Metric Program Target January 31, 2010
Recovery loans include loans funded by
7(a) Recovery Loans Approved, ($) 1 $11,100,000,000 $8,749,552,012
2
the Recovery Act and subsequent
Jobs Created/ Retained, Estimated 384,200 413,265 extensions
504 Recovery Loans Approved, ($) 1 $4,520,000,000 $4,082,362,000
2 Footnotes :
Jobs Created/ Retained, Estimated 66,200 76,513
1 This is the total gross loan value approved.
ARC Loans Approved ($) $335,000,000 $184,796,519 Typically, due to cancellations and loan size
reductions, 15 – 20% of gross approval s are not
Jobs Created/ Retained, Estimated 55,500 44,547 disbursed..
Microloans 3
Loans Approved by Microlenders ($) $32,300,000 $1,017,099 2 Data is self-reported by the borrower and appears
in the SBA loan application form.
Jobs Created/Retained, Estimated 2 9,800 220 3 Microlenders have two years from date of their loan
Surety Bonds Bid Bonds Issued Over $2M, $ $114,000,000 $202,820,000 approval to make loans to Microborrowers.
Final Bonds Issued Over $2M, $ $33,000,000 $57,060,000 4 Data is calculated using historical ratios. The
4 surety bond application form is being revised to
Jobs Created/ Retained, Esti mated 220 287 collect this information from the applicant.
Program-to-Date Recovery Loans Approved out of Total Recovery Loan Approvals Available*
7(a)
7(a)
Loans
Loans 504
504Loans
Loans ARCLoans
ARC Loans Microloans
$7.5 $7.5 $3.0
$3.0 $250
$250 to Microlenders
$6.0 $6.0 $2.4
$2.4 $3.6
$3.6 $200
$200 $300
$300
$9.0 $9.0 $32
$26 $40
$4.5 $4.5 $1.8
$1.8 $150
$150 $336
$336
$11.1$11.1 $4.5
$4.5
$20 $46
$3.0$3.0 $1.2
$1.2 $100
$100
$12
$1.5 $1.5 $0.6
$0.6 $50
$50
$6
$0 $0 $0 $0 $0
$0
$0
Dollars
Dollars
in in
Billions
Billions Dollars
Dollars
in in
Billions
Billions Dollars
DollarsininMillions
Millions Dollars in Millions
*Recovery funding will support approximately $11.1 billion in 7(a) loans, $4.5 billion in 504 loans,
$336 million in ARC loans, and $46 million in loans to Microlenders. 2
January 2010
Recovery – Program Performance Report
Percent* of Recovery Program Targets Achieved as of January 31, 2010
Final Bonds Lapsed Time = 47%
2 3
Jobs Created/ Retained, Estimated 116% Jobs Created/ Retained, Estimated 130%
504
Surety Bonds
1
Recovery Loans Approved, ($) 90% Final Bonds Issued Over $2M, $ 173%
2
Jobs Created/ Retained, Estimated 108% Bid Bonds Issued Over $2M, $ 178%
7(a)
Bid Bonds Lapsed Time = 56%
1 0% 50% 100% 150% 200% 250%
Recovery Loans Approved, ($) 79%
Lapsed Time = 59% * The government-wide Recovery Act period is from February 17,
0% 20% 40% 60% 80% 100% 120% 140% 160% 180%
2009 to September 30, 2010. However, certain programs were
not available until a later date. Thus, the lapsed time refers to
the period between the program start date and the end of the
2 Recovery Act period. The program start dates are:
Jobs Created/ Retained, Estimated 80%
• 7(a) & 504: February 17th, 2009
ARC
• Surety Bid Bonds: March 27th, 2009
Loans Approved ($) 55%
• Surety Final Bonds: June 27th, 2009
0% 20%
Lapsed Time = 49%
40% 60% 80% 100% •Companies use bid bonds when they bid on contracts and
use final bonds for contracts awarded. As a result, issuance of
Final bonds lag Bid bonds.
• ARC : June 15th, 2009
Jobs Created/Retained, Estimated 2 2%
• Microloans: July 31st, 2009
Microloans
Footnotes :
Loans Approved by Microlenders ($) 3%
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.
0% 20% Lapsed
40%Time = 43%
60% 80% 100% 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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