WASHINGTON — The Small Business Administration said today its7(a) and 504 loan programs have set records with 110,275 loansapproved totaling more than $20.6 billion as of Sept. 30, the endof the agency's fiscal year.

The 7(a) loan guaranty program, which is most often used forworking capital, increased the number of loans from 97,290 in FY2006 to 99,607 loans in FY 2007, although the dollar volumedeclined slightly from $14.52 billion to $14.29 billion. TheCertified Development Company or 504 program, used for the purchaseof real estate and fixed assets, provided 10,668 loans worth $6.31billion, up from the 9,943 loans worth $5.73 billion in FY2006.

Nearly a third of all loans went to start-ups, and a third wentto minority borrowers. Loans to minority groups increased by 7%,with the largest increase coming in loans to African Americans,which increased by 23% from 7,238 to 8,903. Smaller volumeincreases were recorded to business owned by Asian Americans,Native Americans and women, while loans to Hispanics declinedslightly. Overall, loans to businesses in underserved areasamounted to more than 36% of total loan approvals.

There are approximately 377 SBA credit union lenders.