• Total SBA lending declined slightly on a yearover-year basis, but the overall trend remains positive. Of note, Placer County notched its second year of declining loan volumes.

• SBCI respondents remain very bullish on the local economy, consistent with elevated consumer sentiment. Hiring demand is strong in the manufacturing sector, although perceived credit accessibility appears to be diminishing.

• Business listing and sales activity remains healthy, but average selling prices declined despite higher revenues and stable cash flows of the subject companies.