Tag Archive : agency

/ agency

SBA loans are designed to benefit business owners with a choice of financing options. The loans usually cover 40{c5af7dfcac74c6fe30f917948b7a3c799c460c768962769cd460a3bd41500ead} of total project cost, participating lender covers 50{c5af7dfcac74c6fe30f917948b7a3c799c460c768962769cd460a3bd41500ead} and the borrower puts up the last 10{c5af7dfcac74c6fe30f917948b7a3c799c460c768962769cd460a3bd41500ead}. Washington — Linda McMahon, the WWE co-founder and two-time Republican candidate for the U.S. Senate in Connecticut, is President-elect Donald J. Trump’s choice to head the Small Business Administration.

Small business contracting programs include efforts to ensure that certain federal contracts reach woman-owned and service-disabled veteran-owned small businesses as well as businesses participating in programs such as 8(a) and HUBZone. The Government is also looking for commercial banks to take advantage of the Small Business Administration Loan Guarantee.small business administration

SBA loans are available to many types of businesses, from established businesses to start-ups. In my travels throughout Connecticut in 2010 and 2012, I met with more than 500 small business owners, touring their shops, restaurants, offices and factories and sharing ideas during roundtable discussions.small business administration

Hence, it would be extremely difficult for them to secure loans at high interest rates. Initially the SBA concentrated on providing direct loans to small businesses, guaranteeing bank loans and making loans to victims of natural disasters. Loans of up to $1.5 million are available for businesses as long as they meet community development goals, which could include creating one job for every $50,000 of the loan.

In other cases, it goes ahead and gives the loans directly to enterprises affected by unfortunate circumstances like fire outbreak. The Small Business Jobs Act aims to provide critical resources to help small businesses continue to drive economic recovery and create jobs.small business administrationRead More

The ILP Program anticipates meeting the needs of small business borrowers that face significant gaps in the credit market. Unsecured loans do not have collateral, though the lender will have a general claim on the borrower’s assets if repayment is not made. Meeting and exceeding the federal government’s small business procurement goals continues to be an Administration priority.small business administrationsmall business administrationsmall business administration

The Small Business Jobs Act increased the maximum amount of SBA microloans from $35,000 to $50,000. According to statistics, SBA has so far helped over 20 million enterprises, with over 200,000 loans worth over 40 million dollars. So, you know by now that having a presence on social media is important for your business.

Women-Owned Small Business Designation – This designation allows preferential treatment to federal procurement opportunities. If you qualify as a small business, in order to receive SDB or 8 (a) certification, the owner of the business must be economically and socially disadvantaged.

If a company has been in business for at least two years, is profitable and has cash flow to support loan payments, it’s likely a good candidate for an SBA loan,” SmartBiz CEO Evan Singer says. In the lending process, they serve the purpose of setting the terms and conditions and regulating the loans.

If you are unsure where to start when applying for a SBA loan, definitely go to your local bank branch and see if they have a loan supervisor who works with SBA Loans. You’ll find that maintaining your business plan gives you a better grasp on your business, your market, and everything else that happens with your company.… Read More