NEWARK — New Jersey’s minority small-business owners have reached a new
milestone.

For the first time, minority-owned business received the majority of the loans approved in New Jersey by the U.S. Small Business Administration, during the agency’s fiscal year 2007, the period of Oct. 1, 2006 through Sept. 30, 2007.

According to SBA New Jersey District Director James A. Kocsi, minority small-business owners accounted for 52 percent of all loans approved by SBA’s New Jersey District Office in fiscal year 2007 and received 1,856 loans for $254 million.

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