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Houston SBA office blames Harvey for $70M loan impact

bizjournals Friday, 10 November 2017 ()
Hurricane Harvey wiped away roughly $70 million in projected U.S. Small Business Administration loans in the Houston area, ending multiple record-breaking years for the government loan program in the Bayou City. Banks and credit unions awarded about 1,616 loans valued at $929 million in 2017, which was down from $963.5 million in 2016, according to a Nov. 9 release. The program had seen double-digit growth rates for at least the past two years. The Houston office had projected loans to exceed…
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