BUSINESS MEMO: SBA LOANS HIT RECORD; $10 BILLION IN GUARANTEES

The U.S. Small Business Administration's primary lending programs hit record levels in Fiscal Year 1996, $10.2 billion in loan guarantees.

In addition, another $1.7 billion in financing and bonds to small businesses was made possible through other SBA programs, said SBA Administrator Philip Vader.

During the first nine months of FY 1996, the SBA District office at St. Louis approved 399 loans, totaling $65,043,604 in Eastern Missouri, creating 1,906 new jobs in 54 counties.

SBA helps new and growing businesses meet financial needs, counsels small companies with problems and helps small businesses to acquire government contracts.

Ten loans were approved in Cape Girardeau County, representing $1.7 million, resulting in 32 new jobs. Other loans in Southeast Missouri includes four in Butler County, $352,000, 24 new jobs; four in Mississippi County, $206,000, seven new jobs; nine in Scott County, $1.3 million, 38 new jobs; three in Stoddard County, $149,000, five new jobs; one each in New Madrid ($10,000) and Ste. Genevieve County ($110,000 and eight new jobs).