While the economic downturn has substantially affected the number of SBA loans, the dollar amount has changed
less. In some ways SBA loans are a shock absorber in times when credit is tight, but even this program is not
immune to the economics of decreased loan demand in the peak and nadir of a downturn. Making the data difficult
to interpret is the fact that SBA guarantees and fees have changed over the years; this creates various pullbacks and
surges in the SBA loan program such as the spike in lending at the end of 2010.