Recovery Program Performance Report: June 2010
Summary
The SBA Recovery Program Performance Report for June 2010, setting program targets against actual results as of June 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 $16,048,790,935 against a target of $14,400,000,000, with an estimated 602,346 jobs against a target of 509,250. Approved 504 loans totaled $5,844,193,000 against $5,500,000,000, ARC loans $255,787,574 against $335,000,000, and surety bid bonds issued $382,088,000 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 $46 million in loans to Microlenders.
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Recovery
Program Performance Report
June 2010
June 2010
Recovery – Program Performance Report
The Recovery Act period is from
Actual as of
Feb. 17, 2009 to Sept. 30, 2010
Program Metric Program Target June 30, 2010
7(a) Recovery Loans Approved, ($) 1 $14,400,000,000 $16,048,790,935
Jobs Created/ Retained, Estimated 2
Recovery loans include loans funded by
509,250 602,346
Recovery Loans Approved, ($)
the Recovery Act and subsequent
504 1
$5,500,000,000 $5,844,193,000
Jobs Created/ Retained, Estimated
extensions
1
2
109,250 108,667
ARC Loans Approved ($) $335,000,000 $255,787,574 Footnotes :
Jobs Created/ Retained, Estimated 55,500 58,562 1 This is the total gross loan value approved.
Microloans 3 Loans Approved by Microlenders ($) $32,300,000 $3,334,738 Typically, due to cancellations and loan size
Jobs Created/Retained, Estimated 2 9,800 714 reductions, 15 – 20% of gross approval s are not
disbursed. Funding associated with cancelled
Surety Bonds Bid Bonds Issued Over $2M, $ $114,000,000 $382,088,000 loans is made available to approve new loans.
Final Bonds Issued Over $2M, $ $33,000,000 $98,051,000 2 Data is self-reported by the borrower and appears
Jobs Created/ Retained, Estimated 4 220 469 in the SBA loan application form.
* the name was changed to better reflect how businesses report jobs; this change does not affect comparability with prior numbers 3 Microlenders have two years from date of their loan
approval to make loans to Microborrowers.
4 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
$10.5
$3.2
$4.0
$4.8 $240 to Microlenders
$8.4 $192
$12.6 $288 $32
$26 $40
$6.3 $2.4
$14.8 $5.5 $144 $336
$20 $46
$4.2 $1.6
$96
$12
$2.1 $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
June 2010
Recovery – Program Performance Report
Percent* of Recovery Program Targets Achieved as of June 30, 2010
Final Bonds Lapsed Time =80%
2 3
Jobs Created/ Retained, Estimated 213%
Jobs Created/ Retained, Estimated 99%
Surety Bonds
504
1
Final Bonds Issued Over $2M, $ 297%
Recovery Loans Approved, ($) 106%
2
Bid Bonds Issued Over $2M, $ 335%
Jobs Supported* 118%
Bid Bonds Lapsed Time = 83%
7(a) 0% 50% 100% 150% 200% 250% 300% 350%
1
Recovery Loans Approved, ($) 111%
* The government-wide Recovery Act period is from February 17,
0% 20%
Lapsed Time = 84%
40% 60% 80% 100% 120% 140% 160%
2009 to September 30, 2010. However, certain programs were
not available until a later date. Thus, the lapsed time refers to
the period between the program start date and the end of the
Jobs Created/ Retained, Estimated
2
106%
Recovery Act period. The program start dates are:
• 7(a) & 504: February 17th, 2009
ARC
• Surety Bid Bonds: March 27th, 2009
Loans Approved ($) 76%
• Surety Final Bonds: June 27th, 2009
Lapsed Time = 84% •Companies use bid bonds when they bid on contracts and
0% 20% 40% 60% 80% 100% 120%
use final bonds for contracts awarded. As a result, issuance of
Final bonds lag Bid bonds.
2 • ARC : June 15th, 2009
Jobs Created/Retained, Estimated 7%
Microloans
• Microloans: July 31st, 2009
Loans Approved by Microlenders ($) 10% 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.
0% 20% 40% 60% 80% 100% 2 Data is self-reported by the borrower and appears in the SBA loan application form.
Lapsed Time = 78%
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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