Dallas/Fort Worth area’s entrepreneurial climate remained remarkably strong this year despite the widespread economic impact of the COVID-19 pandemic.

The total amount of Small Business Administration loan guarantees in fiscal year 2021 was $1.775 billion which is a record year for the DFW district. The number of SBA guaranteed loans also increased from 2019 and 2020 – there were a total of 1,820 loan approvals in FY 21. These loans were made through banks, credit unions and certified development companies.

Those included six loans made to businesses in Wood County totaling $9.9 million and impacting 48 jobs.

“The FY 21 numbers are proof that our economy is recovering from one of our worst disasters and businesses are creating the needed jobs to help make this recovery a success. The work of SBA’s resources partners and lending partners played a major role in this record year,” said Herbert Austin, SBA’s Dallas/Fort Worth district director.

The FY 21 Regular Program loan totals for the DFW District Office were as follows:

• 7(a) Loan Program: 1,699 loans approved for $1.640 million

• 504 Loan Program: 121 loans approved for $135 million

As a direct result of SBA guaranteed 7(a) and 504 small business financing in FY 21, approximately 22,391 jobs were created or saved in the DFW district.

Nationally, SBA reached $44.8 billion in funding to small businesses through more than 61,000 traditional loans for FY 21.