Colorado small businesses borrowed a record amount through Small Business Administration guaranteed-loans this year, setting a new lending record.

In Colorado, SBA lending surged to 1,996 guaranteed loans worth $826.7 million, surpassing the previous year’s record by 242 loans and $126 million.

Over the years it has not been unheard of in Colorado for SBA loans to go out to 2,000 small businesses.

“But we have never done this dollar amount,” said Christopher Chavez, spokesman for SBA, Denver Region.

Read more at the Denver Business Journal: http://bit.ly/2esr3Tz

(© 2016 American City Business Journals. All rights reserved.)