For the Good of Illinois

Press Release: U.S. Small Business Administration

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BREAKING REPORT: 

 

U.S. Small Business Administration, Quantifying Lending Practices FY2014-FY2018

 

More than $170 billion in Small Business Administration (SBA) lending during the past five-years. Where did the money go? Unfortunately, mom and pop businesses on Main Street aren't the top recipients. 

$12.2 billion in lending went to Wall Street. $120 million went to private country clubs, beach clubs, swim clubs, tennis clubs and yacht clubs across America. In fact, $1+ million loans comprised 57-percent of all lending activity. We found $16 billion in bad loans (failed lending)!


Small Business Administration (SBA) by the Numbers: 

$170 billion –  taxpayer obligations –  lending activity FY2014 – FY2018;

 

$16.5 billion –  bad debt portfolio – failed lending FY2010 – FY2018; 

 

1,633% increase – in disaster lending FY2014 –  FY2018. The SBA nows gives housing loans to individual residents;

 

$40,743 – entities receiving a $1+ million loan during FY2014 – FY2018. That's 57-percent of the portfolio or $94 billion. Face amounts of $500,000 or more represent 75-percent of the portfolio during the past five-years;

 

$120 million – flowed into private country clubs, golf clubs, tennis clubs, beach and swim clubs, and yacht clubs across America.
 

For full report, click here.

 

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