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Tag >> SBA
Dec 16

SBA guarantees get easier

Posted by dbedell in Small Business AdminstrationSBAFinanceCash


Two new programs out from the Small Business Administration (SBA) promise easier loan access for US companies, which is good news for the many small firms that have struggled to get funding from banks over the past few years.

The first program is called Small Loan Advantage, and its main goal is to reduce the paperwork involved in getting loan approval and decrease the wait-time from application to money receipt.

Oct 20

Top 10 SBA lenders

Posted by annearf in SBAloansJP Morgan ChaseCashBank of America


The SBA 's annual ranking of small-business lenders was just made available--and it reveals some interesting insights.

First, to clarify, the list isn't really a ranking. It includes all the lenders that made SBA-based loans in fiscal 2010, arranged alphabetically. But the information includes the number of loans each institutions made, along with the gross total amount of loans and the portion that was SBA-approved. So you can easily figure out which lenders are on top and which ones aren't.

Oct 14

Women-owned businesses proliferate, but many fail to thrive

Posted by Karen1 in US Women's Chamber of CommerceSBA


Between 1997 and 2007, the number of women-owned businesses jumped from 5.4 million to 7.8 million. At the same time, however, the share of overall revenue captured by women-owned ventures dropped from 4.4 to 3.95 percent, according to a recent study by the US Women's Chamber of Commerce, that was based on US Census data. In fact, just one out of every five firms with revenues topping $1 million is owned by a woman.

Oct 13

SBA unveils a new definition of small business

Posted by annearf in small businessSBAloansfederal contractscompliance


Small businesses just officially got bigger.

That's because the Small Business Administration recently revised the size standards defining whether a company is really considered small and, therefore, is eligible for SBA programs.  Generally, the new standards  have been revised upwards; they cover three industries--retail, accommodation and food service, and "other services" sectors.

Sep 30

New Act to improve SME lending

Posted by dbedell in SMESmall Business Adminstrationsmall businessSBAReinvestment and Recovery ActDealsCash


 The Small Business Jobs Act, signed into being on Monday, should go some way to making small business lending more accessible and available, but it does not erase the fact that the Administration has fallen down in its small business support over the past couple of months—at a time when that support was most necessary.

Under the new Act, small businesses will certainly see the benefits of the Small Business Administration (SBA) loan sweeteners and additional funding for SBA and other small business lending initiatives.

Jul 29

BofA to boost microloans

Posted by Stephen Taub in Small Business AdminstrationSBARiskloansCommunity Development Financial InstitutionsCash

Stephen Taub

Bank of America is trying to boost puny loans to small business.

The banking giant, which is very active in the small business community, said it will provide $10 million in grants to nonprofit lenders, such as Community Development Financial Institutions (CDFIs), to leverage funds from the Small Business Administration (SBA) and the US Department of Agriculture (USDA) for lending to small and rural businesses.

Jun 10

Don't bet against Mother Nature

Posted by Karen1 in SBAnatural disasterIRS


The 2010 Atlantic Hurricane Season Outlook prepared by the National Oceanic and Atmospheric Administration (NOAA) calls for an 85 percent chances of an above-normal – that is, more active – season. What’s more, while four out of five companies responding to a 2008 study by insurer FM Global indicated that they have North American operations located in hurricane-prone regions, nearly 50 percent indicated that they’re not well-prepared. 

 -       Given that flooding usually accompanies hurricanes, make sure valuable equipment is stored above ground. Fill sandbags and place at entry points to further protect equipment.

May 05

How important are SBA loans anyway?

Posted by annearf in stimulus billsmall businessSBAloansCash


It's time to dial down all the fuss about SBA loans.

First, there are the reports about increases in SBA loan dollar volume, thanks to the stimulus bill. For example, according to the SBA , over a period of about a year, average weekly loan dollar volumes increased more than 90 percent in the two most popular programs, 7(a) and 504 from the average before the passage of the stimulus bill.  7(a) loans can be used for such purposes as working capital and the purchase of equipment, while 504 provides long-term, fixed-rate financing for buying real estate and other fixed assets used for expansion or modernization.

Oct 28

Can Obama's new moves to boost small-business lending succeed?

Posted by annearf in small businessSBABanks


President Obama just announced plans to increase lending to small businesses by tapping the $700 billion Troubled Asset Relief Program (TARP). But it's far from clear that the move will do any good. 

 The stimulus package included a number of measures aimed at increasing SBA lending--for example, increasing its guarantee on 7(a) loans from about 75% to 85%,  to 90%, and reducing or cutting fees on 7(a) and 504 loans. But, despite these measures, SBA lending was down in fiscal 2009.  Loans through the 7(a) program dropped by 27%.

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