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Small businesses in New Jersey received more than $900 million in loans from the U.S. Small Business Administration, according to a report by 101.5 News Radio.

New Jersey’s SBA office says the $905 million in loans approved in fiscal year 2018, which ended Sept. 30, represents a $34 million increase over last year.

New Jersey District Director Al Titone says 2018 said the sizes of the loans are increasing as well, with the average loan being $397,000.

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