New York SBA Breaks $1 Billion in Small Business Lending for the First Time Ever

Local numbers surpass national SBA trends – lending volume up 36 percent, loan dollars up 15 percent in the New York District

New York – The U.S. Small Business Administration (SBA), New York District Office announced today fiscal year 2017 lending numbers showing a 36 percent increase in total loans made in the district (2,998), and a 15 percent increase in dollar amount ($1,016,502,422). This increase over last year launched the New York office over the billion dollar mark for the first time ever.

Across the country, throughout its 68 geographic-based districts, SBA approved over 68,000 loans in the 7(a) and 504 loan programs in FY 17.  These programs provided over $30 billion to small businesses.

“I’m ecstatic!” said New York District Director, Beth Goldberg. “Our numbers are through the roof. We guaranteed more loans than any other district. Thirty-six percent of our loans were under $50,000; 42 percent of our loan dollars went to minority-owned businesses. Sixteen percent, or $160 million, went to women-owned businesses. SBA New York supported the creation or retention of 21,000 jobs throughout our 14-county district. We’ve got great momentum and I’m excited for 2018.”

Goldberg attributed the increase to her offices’ work to address the pain points of SBA lenders. She said that her staff has been meeting with lenders to make them more comfortable with the SBA loan guarantee, and discuss different parts of the process so they see the SBA guarantee as another “tool in their toolboxes” when meeting with small business owners looking for financing.

“This significant increase would not have been possible without our lending partners,” Goldberg said.

Across the country, SBA added 241 new lenders in FY 17. In the New York District, 35 lenders made loans that did not lend in FY 16. TD Bank made more SBA loans than any other lender (898), while Newbank loaned the greatest dollar volume ($119 million).

In addition, the New York SBA office is working more closely with its local Resource Partners represented by SCORE mentors, the Small Business Development Center (SBDC) network and Women’s Business Centers (WBCs) in the area. SBA New York coordinated more than 700 workshops for small business owners, lenders and entrepreneurs throughout New York City, Long Island and the downstate counties of Westchester, Rockland, Putnam, Orange, Dutchess, Ulster and Sullivan.

“Going forward, we want to increase SBA 504 lending,” Goldberg said. “This program makes it possible for small business owners to purchase their building for as little as 10 percent down. We really want to spread the word so we can help entrepreneurs move from tenant to owner occupant.”

SBA 504 loans provide small businesses with long-term, fixed rate financing to acquire fixed assets, and are available through Certified Development Companies (CDCs), SBA’s community-based partners.

SBA also launched its online lender referral tool, Lender Match in FY 17. Lender Match is an upgrade to LINC (Leveraging Information and Networks to access Capital), and connects small business borrowers with participating SBA lenders.

“We’re excited for the year to come,” Goldberg said. “We’re building on great momentum and the entrepreneurial spirit is alive and thriving in the New York District.”


For more information about SBA’s loan programs, financial assistance and other services, visit

Release Date: November 20, 2017 Contact: Bailey Wolff  (212) 264-1489
Release Number: 18-01 Internet Address:

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ABOUT THE U.S. Small Business Administration, New York District Office

The SBA New York District Office delivers its programs and services throughout New York City, Long Island and the downstate counties of Dutchess, Orange, Putnam, Rockland, Sullivan, Ulster and Westchester. Our Long Island Branch Office provides services on Long Island. Visit for more information including resource partners, lenders, workshops, success stories and other resources to help businesses start, grow and succeed.

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