Recovery Program Performance Report: March 2010
Summary
The SBA Recovery Program Performance Report for March 2010, setting program targets against actual results as of March 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 $13,313,502,435 against a target of $11,100,000,000, with an estimated 503,203 jobs against a target of 384,200. Approved 504 loans totaled $4,487,070,000 against $4,520,000,000, ARC loans $224,978,693 against $335,000,000, and surety bid bonds issued $284,078,000 against $114,000,000. Microlenders had approved $1,723,501 in loans against a target of $32,300,000.
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Recovery
Program Performance Report
March 2010
March 2010
Recovery – Program Performance Report
The Recovery Act period is from
Feb. 17, 2009 to Sept. 30, 2010
Actual as of March
Program Metric Program Target 31, 2010 Recovery loans include loans funded by
7(a) Recovery Loans Approved, ($) $11,100,000,000 $13,313,502,435 the Recovery Act and subsequent
Jobs Created/ Retained, Estimated 384,200 503,203 extensions
504 Recovery Loans Approved, ($) $4,520,000,000 $4,487,070,000
Footnotes :
Jobs Created/ Retained, Estimated 66,200 90,817
1 This is the total gross loan value approved.
ARC Loans Approved ($) $335,000,000 $224,978,693 Typically, due to cancellations and loan size
Jobs Created/ Retained, Estimated 55,500 52,517 reductions, 15 – 20% of gross approval s are not
Microloans Loans Approved by Microlenders ($) $32,300,000 $1,723,501 disbursed..
Jobs Created/Retained, Estimated 9,800 357 2 Data is self-reported by the borrower and appears
in the SBA loan application form.
Surety Bonds Bid Bonds Issued Over $2M, $ $114,000,000 $284,078,000
3 Microlenders have two years from date of their loan
Final Bonds Issued Over $2M, $ $33,000,000 $76,020,000 approval to make loans to Microborrowers.
Jobs Created/ Retained, Estimated 220 364 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*
504 Loans ARC Loans Microloans
to Microlenders
$3.0 $250
$2.4 $3.6 $200 $300 $32
$26 $40
$1.8 $150 $336
$4.5 $20 $46
$1.2 $100
$12
$0.6 $50
$6
$0 $0 $0
Dollars in Billions Dollars in Millions Dollars in Millions
*Recovery funding will support approximately $13.3 billion in 7(a) loans, $4.4 billion in 504 loans,
$224 million in ARC loans, and $1.7 million in loans to Microlenders. 2
March 2010
Recovery – Program Performance Report
Percent* of Recovery Program Targets Achieved as of March 31, 2010
Final Bonds Lapsed Time =53%
2 3
Jobs Created/ Retained, Estimated 165%
Jobs Created/ Retained, Estimated 137%
Surety Bonds
504
1 Final Bonds Issued Over $2M, $ 230%
Recovery Loans Approved, ($) 99%
2 Bid Bonds Issued Over $2M, $ 249%
Jobs Created/ Retained, Estimated 131%
0% 50% 100% 150% 200% 250%
7(a) 1 Bid Bonds Lapsed Time = 61%
Recovery Loans Approved, ($) 120%
* The government-wide Recovery Act period is from February 17,
0% 20% Lapsed60%
40% Time = 64%100%
80% 120% 140% 160% 2009 to September 30, 2010. However, certain programs were
not available until a later date. Thus, the lapsed time refers to
the period between the program start date and the end of the
2 Recovery Act period. The program start dates are:
Jobs Created/ Retained, Estimated 95%
• 7(a) & 504: February 17th, 2009
ARC
• Surety Bid Bonds: March 27th, 2009
Loans Approved ($) 67%
• Surety Final Bonds: June 27th, 2009
0% 20% 40% 60% 80% 100%
•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.
Jobs Created/Retained, Estimated 4%
• ARC : June 15th, 2009
Microloans
2
• Microloans: July 31st, 2009
Loans Approved by Microlenders ($) 5%
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.
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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