U.S. Small Business Administration lending increased significantly in Maine during the federal government’s 2017 fiscal year, which ended Sept. 30, the SBA reported Tuesday.

The 16 percent increase in total SBA loan value over the previous fiscal year was led by a 48 percent jump in the value of 504 loans, which allow businesses to acquire fixed assets such as equipment for expansion or modernization. In all, the SBA approved 73 loans under the 504 loan program in Maine, with a total value of nearly $39.8 million, during fiscal year 2017.

The SBA also approved 303 loans under the 7(a) loan program in Maine, with a total value of more than $68.5 million, during the 2017 fiscal year. That’s a 3 percent increase over the previous fiscal year, it said. The 7(a) loan program is the SBA’s flagship loan-guarantee program for business startups and expansions.

“We are extremely pleased to have assisted Maine small businesses with obtaining over $108 million of guaranteed financing,” Amy K. Bassett, SBA district director for Maine, said in a news release. “SBA knows that small businesses are an integral part of the Maine economy and we are committed to providing them with greater access to capital. These numbers indicate that our outreach is working and we look forward to working with our valued partners to help more small businesses access SBA programs and services.”

Nationally, the SBA approved over 68,000 loans in the 7(a) and 504 loan programs in fiscal year 2017. The two programs provided over $30 billion to small businesses across the U.S., the SBA said.