2011 financing tables 0

7/31/2019 2011 Financing Tables 0

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Section B Small Business Financing Data

Chart B.1. Movements in Interest Rates, 2005-2011

Table B.1. Movements in Interest Rates, 2005--2011

Table B.2. Loan Rates Charged by Banks by Loan size, February 2008November 2011

Table B.3. Credit Market Borrowing by Non-Financial Sector, 1999-2010

Table B.4. Major Sources and Uses of Funds by Nonfarm, Nonfinancial Corporate Businesses, 1999-2010

Table B.5. Major Sources and Uses of Funds by Nonfarm, Noncorporate Businesses, 1999-2010Table B.6. Dollar Amount and Number of Small Business Loans, June 2005-June 2011

Table B.7. Change in the Dollar Amount and Number of Business Loans by Loan Size, June 2005-June 2011

Table B.8. Aggregate Value and Number of Small and Large Business Loans by Loan Type and Size for Depository Lenders,

2005 to 2011

Table B.9. Share of Business Loans and Total Assets by Size of All U.S. Depository Institutions

June 2011

Table B.11. Business Loans Outstanding from Finance Companies, December 31, 1980-December 31, 2010

Table B.12. Common Stock Initial Public Offerings by All and Small Issuers, 1997-2010

Table B.13. New Commitments, Disbursements, and Total Capital Pool of the Venture Capital Industry, 1982-2010


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Percent

Chart B.1 Movements in Interest Rates, 2005-2011

Treasury bill rates (3 mo)

AAA corporate bond rates

Prime rates


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Table B.1 Movements in Interest Rates, 2005-2011 (percent)

Treasury bill rates

(3 mo)

AAA corporate

bond rates

Prime

rates

Dec-11 0.01 3.93 3.25

Nov-11 0.01 3.87 3.25

Oct-11 0.02 3.98 3.25

Sep-11 0.01 4.09 3.25Aug-11 0.02 4.37 3.25

Jul-11 0.04 4.93 3.25

Jun-11 0.04 4.99 3.25

May-11 0.04 4.96 3.25

Apr-11 0.06 5.16 3.25

Mar-11 0.10 5.13 3.25

Feb-11 0.13 5.22 3.25

Jan-11 0.15 5.04 3.25

Dec-10 0.14 5.02 3.25

Nov-10 0.14 4.87 3.25

Oct-10 0.13 4.68 3.25

Sep-10 0.15 4.53 3.25

Aug-10 0.16 4.49 3.25

Jul-10 0.16 4.72 3.25

Jun-10 0.12 4.88 3.25

May-10 0.16 4.96 3.25

Apr-10 0.16 5.29 3.25

Mar-10 0.15 5.27 3.25

Feb-10 0.11 5.35 3.25

Jan-10 0.06 5.26 3.25

Dec-09 0.05 5.26 3.25

Nov-09 0.05 5.19 3.25

Oct-09 0.07 5.15 3.25

Sep-09 0.12 5.13 3.25

Aug-09 0.17 5.26 3.25Jul-09 0.18 5.41 3.25

Jun-09 0.18 5.61 3.25

May-09 0.18 5.54 3.25

Apr-09 0.16 5.39 3.25

Mar-09 0.21 5.50 3.25

Feb-09 0.30 5.27 3.25

Jan-09 0.13 5.05 3.25

Dec-08 0.03 5.05 3.61

Nov-08 0.19 6.12 4.0

Oct-08 0.67 6.28 4.6

Sep-08 1.13 5.65 5.0

Aug-08 1.72 5.64 5.0Jul-08 1.63 5.67 5.0

Jun-08 1.86 5.68 5.0

May-08 1.73 5.57 5.0

Apr-08 1.29 5.55 5.24

Mar-08 1.26 5.51 5.66

Feb-08 2.12 5.53 6.00

Jan-08 2.75 5.33 6.98

Dec-07 3.00 5.49 7.33

Nov-07 3.27 5.44 7.50

Page 3 of 22


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Table B.1 Movements in Interest Rates, 2005-2011 (percent)

Treasury bill rates

(3 mo)

AAA corporate

bond rates

Prime

rates

Oct-07 3.90 5.66 7.74

Sep-07 3.89 5.74 8.03

Aug-07 4.20 5.79 8.25

Jul-07 4.82 5.73 8.25Jun-07 4.61 5.79 8.25

May-07 4.73 5.47 8.25

Apr-07 4.87 5.47 8.25

Mar-07 4.97 5.30 8.25

Feb-07 5.02 5.39 8.25

Jan-07 4.96 5.40 8.25

Dec-06 4.86 5.32 8.25

Nov-06 4.96 5.33 8.25

Oct-06 4.89 5.51 8.25

Sep-06 4.85 5.51 8.25

Aug-06 4.98 5.68 8.25

Jul-06 4.96 5.85 8.25

Jun-06 4.79 5.89 8.02

May-06 4.72 5.95 7.93

Apr-06 4.59 5.84 7.75

Mar-06 4.51 5.53 7.53

Feb-06 4.41 5.35 7.50

Jan-06 4.20 5.29 7.26

Dec-05 3.89 5.37 7.15

Nov-05 3.90 5.42 7.00

Oct-05 3.70 5.35 6.75

Sep-05 3.47 5.13 6.75

Aug-05 3.45 5.09 6.50

Jul-05 3.22 5.06 6.25

Jun-05 2.99 4.96 6.25May-05 2.86 5.15 6.00

Apr-05 2.79 5.33 5.75

Mar-05 2.75 5.40 5.75

Feb-05 2.53 5.20 5.50

Jan-05 2.32 5.36 5.25

Source: Federal Reserve Board, Economic Research & Data.

http://mortgage-x.com/general/indexes/default.asp#libor

http://www.forecasts.org/data/data/AAA.htm

http://www.federalreserve.gov/datadownload/

http://www.federalreserve.gov/datadownload/Choose.aspx?rel=H15

Page 4 of 22
http://mortgage-x.com/general/indexes/default.asphttp://www.forecasts.org/data/data/AAA.htmhttp://www.federalreserve.gov/datadownload/http://www.federalreserve.gov/datadownload/Choose.aspx?rel=H15http://www.federalreserve.gov/datadownload/Choose.aspx?rel=H15http://www.federalreserve.gov/datadownload/http://www.forecasts.org/data/data/AAA.htmhttp://mortgage-x.com/general/indexes/default.asp


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Table B.2 Loan Rates Charged by Banks by Loan Size, February 2008November 2011

Loan size

(thousands of dollars)

Fixed-rate term

loans

Variable-rate loans (2-30

days term)

Variable-rate loans

(31-365 days term)

November 2011 less than 9 6.98 3.97 5.93

10-99 5.78 4.10 5.13100-499 4.95 3.92 4.20

500-999 4.31 3.11 2.77

Minimum-risk loans 2.22 2.36 1.90

August 2011 less than 9 7.42 4.31 4.78

10-99 6.28 4.11 4.63

100-499 5.28 3.97 3.58

500-999 4.58 3.31 3.19


May 2011 less than 9 7.05 4.21 5.16

10-99 6.30 4.09 5.10

100-499 5.32 3.78 4.09

500-999 4.81 3.07 3.30


February 2011 less than 9 6.54 4.37 5.67

10-99 5.97 4.20 4.81

100-499 5.50 3.79 4.37

500-999 4.92 3.09 4.21



10-99 6.24 4.40 5.60

100-499 5.74 4.10 4.37500-999 4.94 3.43 3.79


August 2010 less than 9 6.57 4.22 5.84

10-99 6.31 4.20 5.32

100-499 5.67 4.06 4.60

500-999 5.32 3.44 3.65


May 2010 less than 9 7.56 4.25 6.33

10-99 6.48 4.19 5.72

100-499 5.71 3.94 4.13

500-999 5.54 3.34 3.84



10-99 6.57 4.24 5.55

100-499 5.65 3.82 4.59

500-999 5.02 3.82 4.59



Page 5 of 22


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Table B.2 Loan Rates Charged by Banks by Loan Size, February 2008November 2011

Loan size

(thousands of dollars)

Fixed-rate term

loans

Variable-rate loans (2-30

days term)

Variable-rate loans

(31-365 days term)

10-99 6.53 4.37 5.88

100-499 5.96 4.04 4.45

500-999 4.68 3.64 4.29Minimum-risk loans 6.22 1.31 3.68

August 2009 less than 9 7.60 5.39 6.94

10-99 6.49 3.85 5.48

100-499 5.23 3.61 4.61

500-999 4.78 2.94 3.30


May 2009 less than 9 8.07 3.96 6.20

10-99 6.53 3.58 5.46

100-499 5.45 3.31 4.23

500-999 4.94 2.57 3.20



10-99 6.69 3.23 5.59

100-499 5.30 3.19 4.26

500-999 5.09 2.31 3.85



10-99 6.76 4.65 6.38

100-499 6.00 4.63 5.79

500-999 5.34 4.28 5.00

Minimum-risk loans 2.43 3.21 3.88August 2008 10-99 6.87 4.88 6.69

100-499 6.27 4.60 5.36

500-999 5.67 4.55 4.76


May 2008 less than 9 7.60 5.08 7.33

10-99 6.98 4.91 6.85

100-499 6.04 4.82 5.59

500-999 5.62 4.53 5.03



10-99 7.64 5.59 7.35

100-499 6.65 5.66 6.56

500-999 5.86 4.88 5.51


Loans designated minimum risk in banks responses to the FRB survey have virtually no chance of resulting in a loss

based on various characteristics.

Source: Board of Governors of the Federal Reserve System, Survey of Terms of Lending, Statistical Release E.2, various

issues, and special tabulations prepared by the Federal Reserve Board for the U.S. Small Business Administration, Office

of Advocacy.

Page 6 of 22


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Table B.3 Credit Market Borrowing by Non-Financial Sector, 1999-2010 (billions of dollars)*

1999 2000 2001 2002 2003 2004 2005 2006 2007 2008

Total Domestic Borrowing 1,040.7 864.5 1,149.2 1,418.7 1,683.3 1,990.0 2,329.8 2,413.6 2,514.2 1,902.2

Government

Federal -71.2 -295.9 -5.6 257.6 396 361.9 306.9 183.4 237.1 1,239.2

State and local 37.3 16.9 105.5 144.6 120.5 114.1 172 153.7 191 51.6

Total -33.9 -279 99.9 402.2 516.5 476 478.9 337.1 428.1 1,290.8

Business

Farm 3.3 2 6.4 7.1 -12.6 15.8 17.3 14.2 14.6 4

Nonfarm noncorporate 195.9 197.4 161.7 150.8 91.5 245.2 331.6 408.6 454.8 321.8

Nonfinancial corporate 381.9 362.7 209.2 33.6 87.1 203.3 323.7 467.1 743 292.6

Total 581.1 562.1 377.3 191.5 166 464.3 672.6 889.9 1212.4 618.4

Households

Home mortgages* 378.0 383.3 507.1 704.5 874.8 922.5 1039 990.7 674.8 -49.4

Nonmortgages 115.5 198.1 164.9 120.5 126 127.2 134.3 195.9 -117.0 42.4

Total 493.5 581.4 672 825 1,000.8 1,049.7 1,173.3 1,186.6 873.7 -7.0

Foreign borrowing in the

United States 19 63 -11.2 93.4 43 155.3 113 332.6 170.3 -129.5

Source: Board of Governors of the Federal Reserve System, Flow of Funds Accounts, Fourth Quarter 2005: Z1, Flows and Outstandings (March 2011).*Includes loans made under home equity lines of credit and home equity loans secured by junior liens. Home mortgage information was obtained from Z1 househo


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Q4

1,830.5

1,320.2

190.9

1,511.1

10.1

-25.6

413.1

397.6

-128.7

50.5

-78.2

136.9


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Table B.4 Major Sources and Uses of Funds by Nonfarm, Nonfinancial Corporate Businesses, 1999-2010 (billions of dollars)

1999 2000 2001 2002 2003 2004 2005 2006 2007

Before-tax profit 467.7 431.8 314.3 342.9 424.8 659.9 954.1 1,115.1 1,037.6 7

Domestic undistributed profit 74.1 12.5 -40.1 -6.9 1.1 112 515.1 342.4 264.2

Depreciation with inventory valuation adjustment 673.1 632.4 641.4 727 725.1 816.9 1,093.1 940 889.9 8

Total internal funds, on book basis 677.1 649.2 633.4 729.6 736.4 851.2 1,123.8 978 937.1 9

Net increase in liability 987.6 1237.4 95.2 84.9 13.4 609 961.2 836.5 1277.3 3

Funds raised in credit markets 381.9 362.4 209.1 33.6 87 196.6 323.7 467.1 743 2

Net new equity issues -110.4 -118.2 -48.1 -16.2 -39.6 -122.7 -341.8 -565.7 -786.8

Capital expenditures 877.3 953 828 767 782.5 861.6 965.8 1,113 1,157 1

Net financial investment -27.3 -36.6 76.9 50.9 70.4 167.5 -17.5 -138.2 -206.6 -9

Source: Board of Governors of the Federal Reserve System, Flow of Funds Accounts, Fourth Quarter 2004: Flows and Outstandings (March 2011).


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Q4

876.1

177.7

1048.1

1044.1

702.4

413.1

-344

975

200.1


11/22

Table B.5 Major Sources and Uses of Funds by Nonfarm, Noncorporate Businesses, 1999-2010 (billions of dollars)*

1999 2000 2001 2002 2003 2004 2005* 2006* 2007* 2008* 20

Net income 782.5 852.1 908.7 934.6 952.8 1042.9 1086.3 1,166.8 1,130.7 1,144.0 1,12

Gross investment 107.8 114.3 123.7 125.9 131.9 153.8 189.6 163.4 171.7 186.0 1

Fixed capital expenditures 158 166.1 159.3 167 172.7 189.4 205.9 219.1 230.1 226.0 1

Changes in inventories 3.2 2.8 -1.9 0.7 0.8 2.8 2.5 3.2 1.0 -1.4

Net financial investments -53.4 -54.6 -33.7 -41.9 -41.6 -38.3 -18.8 -58.9 -59.5 -38.6

Net increase in credit

market debt 195.9 197.4 161.7 150.8 91.5 245.2 331.6 408.6 454.8 200.2 -3

Mortgages 135.1 137.5 121.2 121.0 75.5 211.3 170.9 281.3 304.3 63.6 -1

Net investment by

proprietors -76.2 -40.4 -26.1 -77.2 32.8 62.8 -80.1 -8.2 -46.7 1.7

Source: Board of Governors of the Federal Reserve System, Flow of Funds Accounts, Fourth Quarter 2004: Flows and Outstandings (March 2011).

** Annual revision for statstics from 2005-2011.


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Q4

N/A

194.7

224.8

0.3

-30.4

-25.6

-90.9

-10.0


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Table B.6 Dollar Amount and Number of Small Business Loans, June 2005-June 2011 (dollars in billions, number in millions)

Loan size 2005 2006 2007 2008 2009 2010 2011

Under $100,000

Dollars 138.1 145.7 159.6 170.2 160.9 159.3 139.5

Number 19.0 19.0 21.6 25.0 21.0 20.3 19.4

$100,000 to


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Table B.7 Change in the Dollar Amount and Number of Business Loans by Loan Size, June 2005-June 2011 (percent)

Change in dollar amount 2005 - 2006 2006 - 2007 2007 - 2008 2008 - 2009 2009 - 2010 2010 - 2011

Under $100,000 5.5 9.6 6.6 -5.5 -1.0 -12.4

$100,000 to


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Value in billions of dollars, nominal

Change

2010-2011

Loans by lender asset size 2005 2006 2007 2008 2009 2010 2011 %

Lenders by total asset size

Less than $100 million 30.9 29.8 27.3 25.3 23.7 21.9 19.5 -10.9

$100 million to $499.9 million 129.8 130.8 129.1 130.8 129.8 125.0 116.1 -7.1


$1 billion to $9.9 billion 120.6 129.1 137.8 145.6 137.0 127.7 124.9 -2.2


$50 billion or more 187.8 208.7 242.5 269.0 270.5 252.4 229.2 -9.2

Total small business loans (less than $1 million) 601.5 634.2 686.8 711.5 695.2 652.2 606.9 -6.9

Number of loans in millions

Lenders by total asset sizeLess than $100 million 0.49 0.47 0.44 0.41 0.41 0.31 0.28 -9.9



$1 billion to $9.9 billion 3.05 2.81 4.91 5.17 1.22 1.14 1.34 17.4


$50 billion or more 9.57 11.79 12.28 14.95 15.13 16.21 15.41 -4.9

Total small business loans (less than $1 million) 21.03 21.26 24.53 27.22 23.18 22.39 21.33 -4.7

Source: Federal Deposit Insurance Corporation, Statistics on Depository Institutions, June 2005 through June 2011.

Table B.8 Aggregate Value and Number of Small and Large Business Loans by Loan Type and Size for Depository Lenders, 2005 to

2011


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Table B.9 Share of Business Loans and Total Assets by Size of All U.S. Depository Institutions

Year and loans by size Over 50B 10B - 50B Over 10B 1B - 10B 500M - 1B 100M - 500 Under 10 Total

2011

Total assets of the institution 67.83 9.50 77.33 11.53 3.81 6.37 1.06 100.10

Commercial real estate -

$100,000 or less 16.90 5.59 22.49 19.14 11.01 35.34 12.02 100.00

$100,000 to $250,000 24.93 8.82 33.75 24.30 12.41 25.57 3.96 100.00

$250,000 to $1 million 29.57 10.18 39.75 24.50 11.62 21.49 2.65 100.00

Commercial and industrial

$100,000 or less 67.58 5.72 73.30 9.53 4.58 9.60 2.99 100.00

$100,000 to $250,000 34.32 11.04 45.36 21.57 9.66 19.92 3.48 100.00

$250,000 to $1 million 35.71 13.33 49.04 21.62 8.99 17.69 2.65 100.00

Total small business loans 37.77 9.69 47.46 20.57 9.63 19.13 3.21 100.00

Total large business loans 63.12 10.81 73.93 16.06 4.39 5.26 0.29 99.93

Total business loans 56.50 10.52 67.02 17.25 5.77 8.92 1.06 100.03

Number of institutions 35 57 92 538 656 3,332 2,208 6,8262010


Commercial real estate

$100,000 or less 16.79 5.64 22.43 18.00 11.25 35.41 12.92 100.01

$100,000 to $250,000 25.48 9.14 34.62 23.47 12.32 25.55 4.03 100.00

$250,000 to $1 million 30.04 10.27 40.31 23.55 11.62 21.74 2.78 100.00


$100,000 or less 68.92 5.63 74.56 8.25 4.62 9.56 3.01 100.00

$100,000 to $250,000 33.94 11.77 45.71 20.76 9.91 20.10 3.52 100.00

$250,000 to $1 million 35.59 12.72 48.31 21.69 9.17 18.00 2.83 100.00





Total asset size of the lending institution or bank holding company

(percentage)

Page 16 of 22


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Table B.9 Share of Business Loans and Total Assets by Size of All U.S. Depository Institutions

Year and loans by size Over 50B 10B - 50B Over 10B 1B - 10B 500M - 1B 100M - 500 Under 10 Total

Total asset size of the lending institution or bank holding company

(percentage)

2009



$100,000 or less 22.84 4.96 27.79 18.37 9.78 32.00 12.05 100.00

$100,000 to $250,000 31.48 8.21 39.69 21.77 11.49 23.21 3.84 100.00

$250,000 to $1 million 32.95 9.86 42.81 22.89 11.04 20.50 2.76 100.00


$100,000 or less 62.82 8.58 71.40 9.53 5.04 10.69 3.35 100.00

$100,000 to $250,000 34.58 10.81 45.38 21.52 9.80 19.71 3.59 100.00

$250,000 to $1 million 35.96 13.06 49.02 21.81 8.81 17.55 2.80 100.00







$100,000 or less 19.78 9.20 28.98 16.69 9.52 32.43 12.38 100.00

$100,000 to $250,000 32.40 7.85 40.25 21.42 11.30 23.24 3.79 100.00

$250,000 to $1 million 34.02 9.52 43.54 22.99 11.03 19.74 2.70 100.00


$100,000 or less 54.98 12.89 67.88 12.43 4.98 10.97 3.74 100.00

$100,000 to $250,000 34.63 9.56 44.19 22.56 9.77 19.65 3.82 100.00

$250,000 to $1 million 35.56 11.76 47.32 23.05 9.15 17.46 3.02 100.00






Page 17 of 22


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Table B.10 Number and Amount of Small Business Loans from All Banks and Small Business Credit Card Banks June 2007 - June 2011

2007 2008 2009 2010 2011 2007 2008

All banks

Number of reporting banks 8,614 8,451 8,195 7,830 7,513

Total assets (billions of dollars) 10,789.9 11,708.4 11,905.1 11,707.5 11,816.8 100 100

Loans under $100,000 amount (billions of dollars) 159.6 170.2 160.9 159.3 139.5 100 100

number (millions) 21.6 25.0 21.0 20.3 19.4 100 100

All credit card banks*Number of reporting banks 26 27 24 21 20

Total assets (billions of dollars) 366.0 418.1 434.5 658.3 613.7 3.4 3.6

Loans under $100,000 amount (billions of dollars) 17.2 27.6 25.4 25.6 22.6 10.8 16.2

number (millions) 6.84 9.95 8.37 9.97 9.73 31.6 39.8

All banks minus credit card banks

Number of reporting banks 8,588 8,424 8,171 7,809 7,493

Total assets (billions of dollars) 10,423.9 11,290.3 11,470.6 11,049.2 11,203.1 96.6 96.4

Loans under $100,000 amount (billions of dollars) 142.44 142.64 135.51 133.69 116.97 89.2 83.8

number (millions) 14.80 15.05 12.59 10.31 9.67 68.4 60.2


Note: Credit card banks were banks with: a. a high ratio of credit card loans to total assets; b. small average balances of loans outstanding, and c. a large number of

$100,000.

Percent of a


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2011

100

100

100

5.2

16.2

50.2

94.8

83.8

49.8

nder

1


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Table B.11 Business Loans Outstanding from Finance Companies, December 31, 1980 - December 31, 2010

Annual change

Total receivables outstanding in chain-type*

Billions of Change price index for

dollars (percent) GDP (percent)

December 31, 2010* 460.0 -7.1 1.0December 31, 2009* 495.4 -18.4 0.9

December 31, 2008* 607.3 1.2 2.2

December 31, 2007* 600.1 3.1 2.9

December 31, 2006* 582.2 3.8 3.3

December 31, 2005 561.0 2.7 3.3

December 31, 2004 546.2 3.2 2.8

December 31, 2003 457.4 0.5 2.2

December 31, 2002 455.3 1.9 1.6

December 31, 2001 458.4 -2.5 2.3

December 31, 2000 458.4 16.3 2.2

December 31, 1999 405.2 16.6 1.4

December 31, 1998 347.5 9.1 1.1

December 31, 1997 318.5 2.9 1.7

December 31, 1996 309.5 2.6 1.9

December 31, 1995 301.6 9.7 2.0

December 31, 1994 274.9 NA 2.1

December 31, 1993 294.6 -2.3 2.3

December 31, 1992 301.3 1.9 2.3

December 31, 1991 295.8 0.9 3.5

December 31, 1990 293.6 14.6 3.9

December 31, 1989 256.0 9.1 3.8December 31, 1988 234.6 13.9 3.4

December 31, 1987 206.0 19.7 2.7

December 31, 1986 172.1 9.3 2.2

December 31, 1985 157.5 14.3 3.0

December 31, 1984 137.8 21.9 3.8

December 31, 1983 113.4 12.9 3.9

December 31, 1982 100.4 0 6.1

December 31, 1981 100.3 11.1 9.4

December 31, 1980 90.3

1. Changes from the fourth quarter of the year before.

* Annual revision for statstics from 2006-2010, based on March 2011, release.


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Table B.12 Common Stock Initial Public Offerings by All and Small Issuers, 1997-2010

Amount Average size

Number (millions of dollars) (millions of dollars)

Offerings by all issuers

2010 110 36,260.5 329.6

2009 49 18,047.9 368.3

2008 26 6,768.6 260.3

2007 168 37,218.9 221.5

2006 173 34,543.3 199.7

2005 178 32,555.0 182.9

2004* 213 41,693.6 195.7

2003 132 45,189.2 342.3

2002 86 25,716.3 299.0

2001 99 37,526.0 379.1

2000 387 60,871.0 157.3

1999 512 63,017.4 123.1

1998 366 38,075.3 104.0

1997 623 45,785.0 73.5

Offerings by issuers with assets of $25 million or less

2010 9 435.4 48.4

2009 1 68.2 68.22008 4 391.1 97.8

2007 13 993.9 76.5

2006 12 678.4 56.5

2005 19 585.9 30.8

2004* 23 1,147.6 49.9

2003 8 532.3 66.5

2002 11 420.4 38.2

2001 14 477.2 34.1

2000 56 3,323.9 59.4

1999 207 10,531.0 50.9

1998 128 4,513.7 35.3

1997 241 5,746.1 23.8Offerings by issuers with assets of $10 million or less

2010 5 279.4 55.9

2009 1 68.2 68.2

2008 3 385.4 128.5

2007 5 526.7 105.3

2006 4 272 68.0

2005 10 337.2 33.7

2004* 8 205.7 25.7

2003 4 34.8 8.7

2002 5 160.9 32.2

2001 5 54.9 11.0

2000 13 407.2 31.3

1999 87 3,556.9 40.9

1998 62 2,208.0 35.6

1997 132 2,538.6 19.2

*Annual revision for statstics from 2004-2010 excludes public offering from foreign offerers.

Data provided by Securities Data Company are not as inclusive as those registered with the SEC.

Source: Special tabulations prepared for the U.S. Small Business Administration, Office of Advocacy, by Thomson Financial

Securities Data, August, 2011

Common Stock

Note: Excludes closed end funds. Registered offerings data from the Securities and Exchange Commission are no longer

available.


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Table B.13 New Commitments, Disbursements, and Total Capital Pool of the Venture Capital Industry,

1982-2010 (billions of dollars)

Commitment Disbursement Initial round Follow-on

Capital under

management

2010 12.3 22.0 4.35 17.63 176.7

2009 15.4 17.7 3.32 14.37 179.42008 28.5 27.9 6.06 21.89 203.7

2007 36.1 30.5 7.45 23.03 254.9

2006 32.0 26.3 6.16 20.18 276.7

2005 29.0 22.9 5.72 17.22 269.5

2004 19.8 21.9 4.73 17.22 262.2

2003 11.6 19.1 3.85 15.29 253.5

2002 9.4 21.1 4.13 16.97 252.5

2001 38.9 38.5 7.10 31.43 252.6

2000 104.5 100.5 27.32 73.20 224.8

1999* 55.7 51.5 15.51 36.04 145.6

1998 29.9 21.1 7.17 13.91 91.41997 19.7 14.9 4.87 10.00 63.2

1996 11.8 11.3 4.33 6.95 49.3

1995 9.9 8.0 4.04 3.98 40.7

1994 8.9 4.2 1.71 2.42 36.1

1993 4.1 3.9 1.41 2.28 32.2

1992 5.3 3.6 1.32 2.25 30.2

1991 2.0 2.2 0.57 1.68 29.3

1990 3.3 2.8 0.85 1.92 31.4

1989 4.9 3.3 0.95 2.34 30.4

1988 4.4 3.3 1.09 2.22 27.01987 4.4 4.5 1.00 2.27 24.6

1986 3.8 4.1 0.91 2.11 20.3

1985 4.0 3.4 0.73 2.04 17.2

1984 3.0 3.3 0.87 2.14 13.9

1983 4.2 3.1 0.90 1.97 10.6

1982 2.0 1.8 0.59 1.00 6.7

* Annual revision for statstics from 1999-2010.

Source: Venture Capital Journal (various Issues) andNational Venture Capital Association Yearbook 2010 ,

Preprare by Venture Economics.

2011 financing tables 0

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