Freedom of Information Act: Accessing SBA Data
Do you needs leads? Interested in seeing how your bank stacks up to the competition? Need SBA market data? Want to get your hands on SBA borrower data?
The Freedom of Information Act (FOIA) provides generally any person has the right to request access to federal agency records or information except to the extent the records are protected from disclosure.
Easily access SBA data through the Freedom of Information Act
You don't get the complete loan file on a SBA 7(a) or 504 borrower, but you do get a lot of information including company name and address, bank who processed the loan, amount of loan, terms and a host of additional data.
To get started go to https://foiaonline.regulations.gov/foia/action/public/home. You can request information from as far back as January 1, 1990 to the current month minus 30 days. You'll need to provide a description of the data you want and SBA will grant you access to (cut and paste this information):
Program, BorrName, BorrStreet, BorrCity, BorrState, BorrZip, CDC_Name, CDC_Street, CDC_State, DC_Zip, ThirdPartyLender_Name, ThirdPartyLender_City, ThirdPartyLender_State, ThirdPartyDollars, GrossApproval, ApprovalDate, ApprovalFiscalYear, DeliveryMethod, InitialInterestRate, TermInMonths, NaicsCode, NaicsDescription, FranchiseCode, FranchiseName, ProjectCounty, ProjectState, BusinessType
A few days later you'll get an email from SBA saying they're processing your request and need a check for $250.00. Once the check is received, SBA will send you a CD with the information in an easy to use Excel spreadsheet.
How are you going to use all that great marketing data?