Counties receiving the most SBA loans in California

The Small Business Administration backed loans worth $27.5 billion through its primary lending program in 2023—rising well above pre-COVID-19 pandemic levels as government officials aim to stabilize the economy.Many small businesses get their start and scale up with SBA loans, which increased lending to Black, Latino, and women entrepreneurs in the past few years in step with efforts to become more equitable.Flippa found the county in California where applicants were approved for the most SBA loan funds per capita in fiscal year 2023, which ended in September. The analysis was based on the SBA’s most common loan program, known as 7(a) loans. SBA’s 7(a) program provides extra security to lenders when they loan money to small businesses that might otherwise be considered too risky to grant. Loans can be for up to $5 million, but in 2023, nearly 7 in 10 loans were for amounts of $350,000 or less. Small businesses can use these funds for real estate acquisitions or improvements, working capital, supplies and equipment, and for other business startup or acquisition purposes.Barriers do still exist for eligibility, including income, credit history, and location, but SBA loans can be fruitful for founders who don’t qualify for conventional business financing....