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Officials approve high number of loans in Neb.

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October 29, 2013 09:47 AM EST | AP


OMAHA, Neb. (AP) — Officials say Nebraska has recorded the fourth-highest number of loans in the state's history.

The U.S. Small Business Administration says the agency approved more than 400 loans for $122.6 million in loan guarantees through nearly 80 banks, credit unions and certified development companies. The numbers account for the fiscal year that ended at the end of September.

The loans ranged from $7,700 to $5 million. The average amount was about $305,000, and more than half were for $150,000 or less.

The top small business industries in Nebraska receiving SBA-guaranteed loans are accommodation and food services, retail trade, health care and social assistance, manufacturing, and construction.