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Thursday, Mar 28, 2024
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San Diego SBA Office Gets Top Ranking

The San Diego district office of the U.S. Small Business Administration continues to be ranked as the best in the nation based upon a goal-weighted system that encompasses 18 separate variables.

George Chandler, the district director for the regional office that includes San Diego and Imperial counties, said among the variables that go into the ranking are loans to startup companies, loans to companies doing international trade, and loan counseling.

“As of May 19 we are ranked first among 68 SBA offices in the country. We are meeting 122 percent of our stated goals,” Chandler said.

Through the middle of this month, the San Diego district office had authorized SBA loans to 831 borrowers, with an average loan of about $250,000.

For the prior fiscal year ended Sept. 30, the local SBA office authorized 1,160 loans for a total of about $360 million.

“We’re on track to do about 1,300 loans this year for a total dollar amount of $400 million,” Chandler said.

The loans to small businesses are generally made by commercial banks and are guaranteed by the SBA.

Mike Allen

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