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Real estate loans to small businesses zoom up 40%

February 10, 2010 |  5:00 pm

The dollar amount of loans made to small businesses to help them purchase commercial real estate soared 40% in the Greater Los Angeles area last month, according to data released Wednesday.

The SBA-504 loans, which help companies buy buildings and large equipment, totaled $71.6 million in January, compared with $50.9 million in December, according to CDC Small Business Finance.

The lender said that the Los Angeles area took in 36% of all the statewide SBA-504 financing approved in January. CDC serves California, Arizona and Nevada

-- Tiffany Hsu