Overview of SBA Economic Development Programs and the Impact of the Recovery Act

Save this PDF as:
 WORD  PNG  TXT  JPG

Size: px
Start display at page:

Download "Overview of SBA Economic Development Programs and the Impact of the Recovery Act"

Transcription

1 Overview of SBA Economic Development Programs and the Impact of the Recovery Act 1

2 Access to Capital SBA guarantees loans on reasonable terms through financing partners to small businesses that are unable to obtain funding from conventional lenders. Balances the need to make capital available with the need to provide appropriate monitoring and oversight to be good stewards of taxpayer dollars. Capital Access manages an existing portfolio of roughly $80 billion in outstanding loans.

3 Access to Capital Key program offices and functions: Office of Financial Assistance: lending policy, product development, technology systems Office of Financial Program Operations: processing loan applications, servicing requests, and paying on the SBA guaranty Office of Credit Risk Management: lender oversight and portfolio analytics Investment Division: small business investment companies (SBIC), source of private equity and mezzanine finance Office of International Trade: provides trade promotion, products and services for U.S. small business exporters Office of Surety Bond Guarantees: guarantees surety bonds made by private sureties to businesses that cannot a surety bond on a conventional basis. This increases government contract awards for small business as many contracts have a bonding requirement.

4 SBA 7(a) Loan Structure 7(a) Borrower Requirements: Purpose: Working Capital, Machinery & Equipment, Real Estate, Inventory, and Furniture & Fixtures Size standards: Varies by industry; based on # Employees or $ Receipts generally under employees Type of Business: For Profit, Open to General Public (Not Discriminating) Credit Policy Promote small business financing when it is not otherwise available on reasonable terms 7(a) Loan Terms Guaranty Percentage: 50%, 75%, 85% Guaranty Amount: Max. $1.5 Million To One Borrower (Including Affiliates) Guaranty Fee: 2%--3.75% depending on loan size Maximum Loan Amount: $2 Million Maturity: Up To 25 Years Interest: Up To Prime + 2 3/4% (Exception For SBA Express And Community Express) Cash flow lending Lack of collateral is not a reason to turn down an application Loans not meeting lender s conventional credit policies may be SBA eligible Start-up businesses OK

5 504 Loan Structure Provides 40% second mortgage financing behind a 50% first mortgage from a private lender and in front of a 10% down payment by the borrower. Provides fixed-rate financing that can be used for purchasing or constructing facilities or for purchasing heavy machinery & equipment. The maturity is either 10 years or 20 years. Recent fixed interest rates have been below 6% for 20 year financing. The maximum size 504 loan varies from $1.5 to $4.0 Million. Maximizes public/private sector financing. Fulfill community/public policy goals. Source of job creation CDC s portfolio must create or maintain one job for every $65,000 of program financing. CDCs: Are mostly nonprofit organizations established to promote economic development SBA certifies and regulates CDCs There are approximately 270 CDCs nationwide

6 Entrepreneurial Development SBA s 68 district offices and hundreds of resource partners provide counseling and training to over 1 million small businesses every year Small Business Development Centers nearly 900 branches, many at colleges and universities throughout the United States, provide education and assistance to small business owners. Veterans Business Outreach Centers 8 centers that have programs targeted to the needs of small business owners who served in the Armed Forces. SCORE 12,400 volunteers in 364 chapters. Experienced business owners and executives provide free confidential advice on a wide array of business problems. Over 8.5 million entrepreneurs have relied upon SCORE. Women s Business Centers 111 locations that comprise a national network providing business training, counseling and other resources to help women start and grow successful businesses.

7 Government Contracting SBA works to ensure that small businesses receive 23% of federal contracting dollars. Procurement Center Representatives increase the share of Federal procurement awards for small businesses at major federal and military installations. Commercial Market Representatives are stationed around the country to conduct compliance reviews of prime contractors, counsel small businesses on how to obtain subcontracts, conduct matchmaking activities to facilitate subcontracting to small business, and provide orientation and training on the Subcontracting Assistance Program for both large and small businesses.

8 Government Contracting SBA promotes job growth, capital investment, and economic development to historically underutilized business zones, referred to as HUBZones, by providing contracting assistance to small businesses located in these economically distressed communities. Participants in the 8(a) program receive business development assistance from the SBA and other government agencies. The primary benefit is the ability to receive preferences in various types of government contracting competitions.

9 Disaster Assistance SBA s low-interest, long-term loans to homeowners, renters and businesses of all sizes following a disaster are an important form of federal assistance for the repair and rebuilding of non-farm, private sector disaster losses. The disaster loan program is the only form of SBA assistance not limited to the small business community. It is also the only direct loan program administered by the SBA. Disaster loan applications are mailed out to individuals and businesses that register with FEMA following a Presidential disaster declaration. Loan applications can also be picked up at any Federal/State Disaster Recovery Center or SBA Outreach Center where SBA personnel are available to answer questions about the application process, provide help with filling out forms, and accept completed applications. SBA recently introduced an electronic loan application, available at https://disasterloan.sba.gov/ela, which allows disaster survivors to apply for assistance online. It has capacity for 5,600 applications per hour. 9

10 American Reinvestment and Recovery Act Goals: 1. Restore Access to Capital for Small Businesses: Increase Lending across SBA Loan Programs Restore Healthy Secondary Markets 2. Support Vulnerable Businesses: Provide America s Recovery Capital (ARC) Loans Expand Micro Lending 3. Facilitate Recovery Opportunities: Surety Bond Guarantees Small Business Contracting Opportunities

11 American Reinvestment and Recovery Act Program Changes Fee Reductions eliminated borrower guaranty fees in 7(a) and borrower application fee and third party lender fee in % Guarantees increased guarantee on 7(a) loans from 75%- 85% to 90% Expanded Microloans Added refinancing component to 504 loans Higher limit on surety bonds in certain circumstances New Programs America s Recovery Capital Loans (ARC Loans) Secondary Market for 504 First Mortgages Secondary Market Lending Authority to make emergency loans to broker dealers if credit market seize up again

12 Highlights: American Reinvestment and Recovery Act Significantly increased loan activity: As of March 5, SBA approved $16.5 billion in loans with Recovery Act provisions, and supported $22.2 billion in lending to small businesses. From Feb. 17, 2009 to present, weekly SBA loan dollar volumes rose over 85% in the 7(a) and 504 programs, compared to the weeks preceding ARRA s passage. Creation or retention of small business jobs: From Feb. 17, 2009 to the present, small businesses are reporting that Recovery Act backed 7(a) and 504 loans will help them create over 183,000 jobs and retain over 366,000 more. In addition, small businesses report that Non Recovery Act backed loans approved during the same period are helping them to create or retain over 32,000 jobs. Broad based support to small businesses: From Feb. 17, 2009 to the present, a significant share of Loans with Recovery Act provisions has gone to rural (24%), minority owned (21%), women owned (19%), and veteran owned (8%) businesses. SBA implemented the ARC loan program: As of Mar. 5, 2010 SBA approved 6,484 loans totaling $209 Million.

13 American Reinvestment and Recovery Act NOTE: All loan volumes are gross loan value approved. Typically, due to cancellations and loan size reductions, 15 20% of gross approval value does not get disbursed.

14 American Reinvestment and Recovery Act From Feb. 17, 2009 to the present, over 1,166 lenders that had not previously made a loan since at least 2007 made a 7(a) loan.

15 Additional Proposals President Obama has made several proposals to further support small businesses. Extend the Recovery Act Provisions Larger Loan Limits Commercial Real Estate Refinancing Extend the increased guarantees and reduced fees, which are both highly successful incentives to increase small business lending. Permanently increase the cap on 7(a), 504 and microloans to provide support to a wider array of small businesses. Increase 7(a) loans to $5 Million Increase 504 loans from $2 Million to $5 Million, and from $4 Million to $5.5 Million for manufacturers Temporarily increase limits on SBA Express from $350,000 to $1 million Temporarily allow eligible commercial real estate mortgages to be refinanced into SBA 504 loans to help small businesses avoid foreclosure and save jobs

16 Additional Proposals Small Business Lending Fund For banks with assets of under $10 billion (which account for more than half of the nation's small business lending). Banks would be able to borrow money from the Treasury at a dividend rate as low as 1% if they use the cash to make more small business loans this year than they did in Proposal would ask Congress for a separate lending facility that is not affiliated with TARP. Banks with less than $1 billion in assets would be able to receive capital infusions of up to 5% of their assets--banks with assets of $1 billion to $10 billion would be eligible to access investments totaling 3% of assets. The dividend rate for the capital would start at 5% and decrease as the bank increased its small business lending. The bank has five years to pay Treasury, allowing the bank to pay the Treasury back gradually. More than 8,000 of the country's 8,400 banks would be eligible to participate under these terms, according to government estimates.

17 National Export Initiative The President has set a goal of doubling U.S. exports in the next five years, which will help support good, high paying jobs in manufacturing, services, and in agriculture. Since 2003, America s small business exports have grown about 80%. They now account for nearly $500 billion in annual sales. However, small business still represents only about 30% of export revenues, and more than half of small business exporters only ship to one country. SBA is working with its partners across the federal government to increase both the number of exporters and the number of countries they ship to. As a part of the National Export Initiative, SBA is working to identify small businesses who are interested in exporting, prepare them to export, connect them to international markets, and support them with loans and counseling.

18 SBA Export Assistance Programs The mission of SBA's Office of International Trade is to: enhance the ability of small businesses to compete in the global marketplace; facilitate access to capital to support international trade; ensure that the interests of small business are considered and reflected in trade negotiations; and support and contribute to the U.S. Government's international agenda. The SBA delivers its export loan program through a network of International Credit Officers located in U.S. Export Assistance Centers throughout the country. These specialists are available to explain SBA s export lending programs, the application process and to guide exporters in selecting appropriate payment methods. They can also link companies to specialists for increasing export sales and managing foreign payment risk. SBA offers a 90% guaranty to lenders that make Export Working Capital Loans to small business exporters.

Overview of SBA Economic Development Programs and the Impact of the Recovery Act. April 21, 2010

Overview of SBA Economic Development Programs and the Impact of the Recovery Act. April 21, 2010 Overview of SBA Economic Development Programs and the Impact of the Recovery Act April 21, 2010 1 Overview of Recovery Act: Goals 1. Restore Access to Capital for Small Businesses: Increase Lending across

More information

SBA Loan Programs. Presenter: Bridget Bean. January 19, 2012

SBA Loan Programs. Presenter: Bridget Bean. January 19, 2012 SBA Loan Programs Presenter: Bridget Bean January 19, 2012 1 PRESENTER In April of 2009, Bridget Bean was named District Director of the Washington Metropolitan District Office for the U.S. Small Business

More information

Small Business Administration Recovery Act Implementation

Small Business Administration Recovery Act Implementation Small Business Administration Recovery Act Implementation December 17, 2009 Christine Koronides Office of Capital Access, SBA Christine.koronides@sba.gov Recovery Act Goals 1. Restore Access to Capital

More information

agency responsible for ensuring small businesses succeed.

agency responsible for ensuring small businesses succeed. Who we are The Small Business Administration is the federal agency responsible for ensuring small businesses have the tools they need to start, grow and succeed. What we do SBA provides guarantees on loans

More information

Q&A for Small Business Owners

Q&A for Small Business Owners Q&A for Small Business Owners What did the Obama Administration announce today? The Treasury Department will commit up to $15 billion to help unlock the secondary markets for small business loans. By purchasing

More information

SBA Programs & Services

SBA Programs & Services U.S. Small Business Administration SBA Programs & Services The SBA Advantage Resources and Programs for Success SBA 5 Pillars of Service to Small Business Millions of entrepreneurs use SBA resources and

More information

SBA assists small businesses in three main areas: CAPITAL through our loan programs

SBA assists small businesses in three main areas: CAPITAL through our loan programs SBA assists small businesses in three main areas: CAPITAL through our loan programs CONTRACTS through government contracting certification and business development programs COUNSELING/TRAINING through

More information

Special webinar for IEEE-USA members

Special webinar for IEEE-USA members U.S. Small Business Administration and IEEE-USA Special webinar for IEEE-USA members The SBA Advantage Resources and Programs for Success U.S. Small Business Administration and IEEE-USA Presenter: Penny

More information

Welcome To. America s Small Business Resource

Welcome To. America s Small Business Resource Welcome To America s Small Business Resource Small Business in Colorado Small business plays a vital role in Colorado s economy There are more than 549,000 small businesses in Colorado and they represent

More information

How Important are Small Businesses to America s Economy

How Important are Small Businesses to America s Economy How Important are Small Businesses to America s Economy Small businesses make up: 99.7 percent of U.S. employer firms, 63 percent of net new private sector jobs, 48.5 percent of private sector employment,

More information

U.S. Small Business Administration

U.S. Small Business Administration Financing Small Businesses 1 of 16 What is SBA s Mission? The (SBA) is an independent agency of the federal government established in 1953 to help start, build and grow small businesses in the United States.

More information

U.S. Small Business Administration. Programs and Services

U.S. Small Business Administration. Programs and Services U.S. Small Business Administration Programs and Services U.S. Small Business Administration Established in 1953 Independent federal government agency District and branch offices nationwide Website: www.sba.gov

More information

SBA Overview. October 2014

SBA Overview. October 2014 SBA Overview October 214 Contents Strategic Goals SBA by the Numbers Budget Overview SBA Programs: 3 C s a D and an A 2 SBA s Strategic Goals 1 Growing businesses and creating jobs 2 Building an SBA that

More information

SBA Business Loan Programs

SBA Business Loan Programs SBA Business Loan Programs Horizon Certified Development Company Horizon Certified Development Company Incorporated in 1982 as Hamilton County Development Co., Inc. (HCDC) HCDC is a Certified Development

More information

Welcome To. America s Small Business Resource

Welcome To. America s Small Business Resource Welcome To America s Small Business Resource ú Small business plays a vital role in North Carolina's economy There are more than 800,000 small businesses in North Carolina. 85% of North Carolina small

More information

Small Business Administration

Small Business Administration Financing the SBA Way Wayne Bell District Director Wichita District Office June 6, 2012 1 Agency History SBA What it is Federal Agency Created in 1953 Purpose To help potential and current small business

More information

ACCESS TO CAPITAL FOR SMALL BUSINESSES

ACCESS TO CAPITAL FOR SMALL BUSINESSES ACCESS TO CAPITAL FOR SMALL BUSINESSES Annie Hudspeth annie.hudspeth@sba.gov 210.403.5918 Lionel Davila lionel.davila@sba.gov 210.403.5917 Lender Relations Specialists Mission Established on July 30, 1953

More information

R a i sing C a pital: H ow To Get M o n e y F o r a Small B u s i n e ss

R a i sing C a pital: H ow To Get M o n e y F o r a Small B u s i n e ss R a i sing C a pital: H ow To Get M o n e y F o r a Small B u s i n e ss In addition to drive, ambition and a great deal of planning, starting and expanding a small business generally requires capital.

More information

U.S. Small Business Administration New York District Office

U.S. Small Business Administration New York District Office U.S. Small Business Administration New York District Office Products and Services 25 million businesses 99.8% - small businesses 75% - no employees Most are sole-proprietorships 53% - home-based More than

More information

Mission. Types of Assistance. U.S. Small Business Administration. SBA was created to help people. Get into Grow and Stay. in business.

Mission. Types of Assistance. U.S. Small Business Administration. SBA was created to help people. Get into Grow and Stay. in business. John R. Klaman Senior Area Manager Billings Alternate Work Site 406.869.8421 Mission SBA was created to help people Get into Grow and Stay in business. Types of Assistance Access to Capital / Financial

More information

Administration Announces New Small Business Commercial Real Estate and Working Capital Programs

Administration Announces New Small Business Commercial Real Estate and Working Capital Programs Fact Sheet Administration Announces New Small Business Commercial Real Estate and Working Capital Programs President Obama announced today two new small business lending initiatives to help increase access

More information

Small Business Administration. FY2013 Budget

Small Business Administration. FY2013 Budget Small Business Administration FY2013 Budget FY2013 Overview ($ in Thousands) In FY2013, President Obama continues his investment in small businesses by providing more tools to help them grow and create

More information

SBA Programs & Services

SBA Programs & Services SBA Programs & Services Develyn Rhodes-Johnson BIC Manager/Economic Development Specialist SBA Business Information Center 3600 Wilshire Blvd., Suite 100L Los Angeles, CA 90010 Phone: (213) 251-7253 Fax:

More information

SBA Programs - Summary

SBA Programs - Summary SBA Programs - Summary Agency: U.S. Small Business Administration (SBA) The Small Business Administration is a federal agency established to stimulate and foster economic development through small business.

More information

COMMUNITY ADVANTAGE. Pilot Program Opportunity. Pilot program launched in February of 2011

COMMUNITY ADVANTAGE. Pilot Program Opportunity. Pilot program launched in February of 2011 COMMUNITY ADVANTAGE Pilot Program Opportunity Community Advantage History Pilot program launched in February of 2011 Pilot ends March 15, 2014 but may be extended dd or made permanent After initial launch,

More information

2012 Economic Development Finance Service Conference Federal Program Update SBA

2012 Economic Development Finance Service Conference Federal Program Update SBA 2012 Economic Development Finance Service Conference Federal Program Update SBA April 26, 2012 10:30-12:00pm SBA Programs Microloan Program Community Advantage Intermediary Lending Pilot Program 7(a) 504

More information

A Guide For Business Operation, Start-Up, Relocation, and Expansion in Downtown Naples

A Guide For Business Operation, Start-Up, Relocation, and Expansion in Downtown Naples A Guide For Business Operation, Start-Up, Relocation, and Expansion in Downtown Naples This Section provides information on Financial Resources & Assistance. D owntown Naples, Florida is the ideal place

More information

U.S. Small Business Administration Programs & Services. Frank Alvarado, Sr. Area Manager Tanisha Velasquez, LRS/AO SBA Connecticut District Office

U.S. Small Business Administration Programs & Services. Frank Alvarado, Sr. Area Manager Tanisha Velasquez, LRS/AO SBA Connecticut District Office U.S. Small Business Administration Programs & Services Frank Alvarado, Sr. Area Manager Tanisha Velasquez, LRS/AO SBA Connecticut District Office The SBA Mission Economic Development Maintenance of a Strong

More information

Welcome To. America s Small Business Resource

Welcome To. America s Small Business Resource Welcome To America s Small Business Resource Counseling and Training Government Contracting Financing Disaster Assistance Exporting Online Assistance Advocacy How can the SBA help you with your business?

More information

U.S. Small Business Administration. Erica Choi Senior Area Manager Albany. www.sba.gov/ny/syracuse. erica.choi@sba.gov. (518) 446-1118 Ext.

U.S. Small Business Administration. Erica Choi Senior Area Manager Albany. www.sba.gov/ny/syracuse. erica.choi@sba.gov. (518) 446-1118 Ext. U.S. Small Business Administration Erica Choi Senior Area Manager Albany erica.choi@sba.gov (518) 446-1118 Ext. 231 www.sba.gov/ny/syracuse SBA Mission Help Small Business Owners Start Grow Succeed SBA

More information

SBA Programs & Resources Wilmington-Clinton County Small Business Resource Forum. Marty Golden Director, Columbus District October 28, 2013

SBA Programs & Resources Wilmington-Clinton County Small Business Resource Forum. Marty Golden Director, Columbus District October 28, 2013 SBA Programs & Resources Wilmington-Clinton County Small Business Resource Forum Marty Golden Director, Columbus District October 28, 2013 Who We Are SBA Mission to aid, counsel, assist and protect the

More information

Programs and Services

Programs and Services U.S. Small Business Administration Programs and Services Helping you start, grow and succeed. U.S. Small Business Administration Independent federal agency Created in 1953 Offices in every state and province

More information

AVAILABLE ASSISTANCE TO BUSINESSES

AVAILABLE ASSISTANCE TO BUSINESSES AVAILABLE ASSISTANCE TO BUSINESSES The Arlington EDA is pleased to offer local businesses access to the following incentives and information resources. TAX INCREMENT FINANCING Tax increment financing is

More information

Using Small Business Administration (SBA) Loans to Raise Capital for Your Business

Using Small Business Administration (SBA) Loans to Raise Capital for Your Business Melissa Pilzner 37727 Professional Ctr Dr Suite 100 Livonia, MI 48154 248-427-1600 Melissa.Pilzner@RaymondJames.com Using Small Business Administration (SBA) Loans to Raise Capital for Your Business Using

More information

SMALL BUSINESS ADMINISTRATION

SMALL BUSINESS ADMINISTRATION SMALL BUSINESS ADMINISTRATION AT A GLANCE: 2006 Discretionary Budget Authority: $593 million (Decrease from 2005: 3 percent) Major Programs: Small Business Loans Small Business Development Centers Disaster

More information

SBA Lending - Introduction

SBA Lending - Introduction SBA Lending - Introduction Facilitated by: Jim Kahler - Texans Credit Union Dale Donnell SBA Consulting, LLC Perry Espie US Small Business Administration American Recovery and Reinvestment Act 90% guaranty

More information

Lisa Claassen Business Opportunity Specialist. South Dakota District Office. www.sba.gov

Lisa Claassen Business Opportunity Specialist. South Dakota District Office. www.sba.gov Lisa Claassen Business Opportunity Specialist South Dakota District Office www.sba.gov 1 Overview of SBA s Offices Office of Capital Access Lending and Bonding Office of Government Contracting and Business

More information

SBA 7(a) Government. Guaranteed Loan Program

SBA 7(a) Government. Guaranteed Loan Program SBA 7(a) Government Guaranteed Loan Program SBA Overview The U.S. Small Business Administration (SBA) Was Created By Congress In 1953 To Assist And Counsel Small Business Growth And Prosperity, Thereby

More information

C O U N T Y O F R I V E R S I D E B U S I N E S S R E S O U R C E G U I D E E c o n o m i c D e v e l o p m e n t A g e n c y

C O U N T Y O F R I V E R S I D E B U S I N E S S R E S O U R C E G U I D E E c o n o m i c D e v e l o p m e n t A g e n c y Financing Sources Small Business Administration Recycling Market Development Zones Industrial Development Revenue Bond Program Tech Coast Angels Small Business Administration The SBA - Who We Are and What

More information

President Obama Announces New Efforts to Improve Access to Credit for Small Businesses

President Obama Announces New Efforts to Improve Access to Credit for Small Businesses President Obama Announces New Efforts to Improve Access to Credit for Small Businesses Improving access to credit by small businesses is a crucial step in supporting economic recovery and job creation.

More information

SBA Guaranty Loan Options for Small Businesses

SBA Guaranty Loan Options for Small Businesses SBA Guaranty Loan Options for Small Businesses W. Lewis Burger Lender Relations Specialist Georgia District Office Atlanta, GA (404) 331-0100 Ext 304 W.Burger@SBA.gov SBA Loan Guaranties- Understanding

More information

Small Business Administration: A Primer

Small Business Administration: A Primer The Center On Federal Financial Institutions (COFFI) is a nonprofit, nonpartisan, non-ideological policy institute focused on federal lending and insurance activities. Zachary Kalman and Douglas J. Elliott

More information

Economic Recovery and Beyond

Economic Recovery and Beyond Economic Recovery and Beyond Penny Pickett Associate Administrator for Entrepreneurial Development U. S. Small Business Administration www.sba.gov Federal Reserve Bank of Dallas October 14, 2009 SBA s

More information

WHAT IS A REAL (504) LOAN?

WHAT IS A REAL (504) LOAN? WHAT IS A REAL (504) LOAN? The Real Estate Advantage Loan (also known as a REAL or 504 Loan) is a 10% down, fixed-rate, long-term loan designed to expand capital access, filling a market gap in long-term

More information

Small Business Programs and Resources

Small Business Programs and Resources Small Business Programs and Resources Start-Up Business Weak Collateral Longer Repayment Terms Unfamiliar Industry Achieve community economic development through job creation and retention by providing

More information

U.S. Small Business Administration

U.S. Small Business Administration U.S. Small Business Administration SMART PROC Conference The SBA Advantage Resources and Programs for Success SBA Loan Products Regular 7(a) SBAExpress CommunityExpress Patriot Express CapLines International

More information

U.S. Small Business Administration Programs & Services. New Hampshire District Office (603) 225-1400

U.S. Small Business Administration Programs & Services. New Hampshire District Office (603) 225-1400 U.S. Small Business Administration Programs & Services New Hampshire District Office (603) 225-1400 SBA Services to Small Business: the 3 Cs 1. Capital Access 2. Contracting with Fed. Government 3. Counseling

More information

SBA Programs & Services

SBA Programs & Services Helping you start, grow and succeed. SBA Programs & Services 2012 Government Small Business Conference South Florida District Office Overview Covers 24 counties from Monroe to Osceola District Office located

More information

www.development.ohio.gov

www.development.ohio.gov Minority Business Development Division Joseph Brooks (614) 466-5065 joseph.brooks@development.ohio.gov www.development.ohio.gov The State of Ohio is an Equal Opportunity Employer and Provider of ADA Services

More information

SBA Update Prime Contractors Group Eric Ness SBA Wisconsin District Director

SBA Update Prime Contractors Group Eric Ness SBA Wisconsin District Director SBA Update Prime Contractors Group Eric Ness SBA Wisconsin District Director October 13, 2015 1 Overview Programs and Services Capital Contracting Counseling 2 7(a) Loan Program SBA s primary business

More information

Finance Primer: A Guide to SBA s Loan Guaranty Programs. Text File

Finance Primer: A Guide to SBA s Loan Guaranty Programs. Text File Finance Primer: A Guide to SBA s Loan Guaranty Programs Text File Slide 1 Finance Primer: A Guide to SBA s Loan Guaranty Programs Welcome to SBA s online training program, the Finance Primer: A Guide to

More information

SBA 504 Loan Program. Jobs, Communities

SBA 504 Loan Program. Jobs, Communities SBA 504 Loan Program Growing Small Businesses, Jobs, Communities What is 504? Economic Development Financing Tool Financesfixed assets for healthy, expanding businesses Low down payment to preserve cash

More information

How SBA Can Help Your Business

How SBA Can Help Your Business How SBA Can Help Your Business 1 Why Go Into Business? Make money Have fun Be your own boss Prestige of owning your own firm Leave a legacy for your family 2 Cruel Facts of Entrepreneurial Life 70% survive

More information

Incentive Financing Summary Heffner and Associates, Ltd.

Incentive Financing Summary Heffner and Associates, Ltd. Basic 7(a) Loan Guaranty Start up and existing small To help qualified small Loan maturity is up to 10 Through commercial (SBA) businesses businesses obtain financing years for working capital and lending

More information

SBA Programs to Help You Start & Grow Your Small Business

SBA Programs to Help You Start & Grow Your Small Business SBA Programs to Help You Start & Grow Your Small Business Don Spry Senior Area Manager U.S. Small Business Administration 419 North 3 rd Street Wilmington, NC 28410 don.spry@sba.gov 910-815-3188 (office)

More information

Big. SBA Helps Small. Corporate icons such as Nike, FedEx, and Apple Computer all. Businesses Think. Small Business

Big. SBA Helps Small. Corporate icons such as Nike, FedEx, and Apple Computer all. Businesses Think. Small Business Small Business SBA Helps Small Businesses Think Big B Y H ENRY W ICHMANN, J R., CPA; K ENNETH A BRAMOWICZ; AND H. C HARLES S P ARKS, CPA Corporate icons such as Nike, FedEx, and Apple Computer all started

More information

American Recovery and Reinvestment Act of 2009: The Stimulus Plan for Small Business

American Recovery and Reinvestment Act of 2009: The Stimulus Plan for Small Business American Recovery and Reinvestment Act of 2009: The Stimulus Plan for Small Business Presented by: Kiesha Haughton Smoots,MBA Capital Region-Maryland Small Business Development Center Small Business: INTRODUCTION

More information

USDA Business & Industry (B&I) Guaranteed Loan Program

USDA Business & Industry (B&I) Guaranteed Loan Program USDA Business & Industry (B&I) Guaranteed Loan Program B&I Program To Create And Maintain Employment And Improve Economic And Environmental Climate In Rural Communities Administered By The Rural Business

More information

SCORE. Counselors to America s Small Business SMALL BUSINESS START-UP FINANCING OVERVIEW

SCORE. Counselors to America s Small Business SMALL BUSINESS START-UP FINANCING OVERVIEW SCORE Counselors to America s Small Business SMALL BUSINESS START-UP FINANCING OVERVIEW One key to a successful business start-up and expansion is your ability to obtain and secure appropriate financing.

More information

SBA 504 Debenture Program Long-term financing for fixed asset acquisitions and expansions

SBA 504 Debenture Program Long-term financing for fixed asset acquisitions and expansions SBA 504 Debenture Program Long-term financing for fixed asset acquisitions and expansions Economic Development Objectives of SBA 504 Economic Development Objectives maximum 504 Loan Job Factor Job Creation/Job

More information

Introduction to Small Business Administration Lending

Introduction to Small Business Administration Lending Introduction to Small Business Administration Lending University of Georgia School of Banking Jeff K. Roach, Small Business Resource Associates jkroach@smallbizres.com 770-894-1679 www.smallbizres.com

More information

U.S. Small Business Administration Programs & Services

U.S. Small Business Administration Programs & Services U.S. Small Business Administration Programs & Services Presentation to: Somerville Small Business Forum Thursday, February 23, 2012 By: Alfred J. Titone, District Director New Jersey District Office U.S.

More information

Small Business Administration: A Primer on Programs and Funding

Small Business Administration: A Primer on Programs and Funding Small Business Administration: A Primer on Programs and Funding Robert Jay Dilger Senior Specialist in American National Government Sean Lowry Analyst in Public Finance August 19, 2014 Congressional Research

More information

ACTION: Notice of extension of and changes to Community Advantage Pilot Program

ACTION: Notice of extension of and changes to Community Advantage Pilot Program This document is scheduled to be published in the Federal Register on 12/28/2015 and available online at http://federalregister.gov/a/2015-32583, and on FDsys.gov Billing Code: 8025-01 SMALL BUSINESS ADMINISTRATION

More information

WikiLeaks Document Release

WikiLeaks Document Release WikiLeaks Document Release February 2, 2009 Congressional Research Service Report RS22703 Small Business Administration Programs for Women, Minorities, and Veterans N. Eric Weiss, Government and Finance

More information

Financing Options for Your Small Business Guide

Financing Options for Your Small Business Guide Financing Options for Your Small Business Guide PROVIDED BY THE ANGELO STATE UNIVERSITY SMALL BUSINESS DEVELOPMENT CENTER Revised May 2011 This guide neither intends nor offers specific financial advice.

More information

A Primer On SBA Lending Programs, With An Emphasis On the Role of Life Insurance in SBA Lending. A White Paper

A Primer On SBA Lending Programs, With An Emphasis On the Role of Life Insurance in SBA Lending. A White Paper A Primer On SBA Lending Programs, With An Emphasis On the Role of Life Insurance in SBA Lending A White Paper Authored by: David W. Starfield, Esquire Starfield & Smith, PC Dated: February 2014 I. A General

More information

Understanding Loans and Other Programs Available for Certified Minority Business Enterprises

Understanding Loans and Other Programs Available for Certified Minority Business Enterprises Understanding Loans and Other Programs Available for Certified Minority Business Enterprises Presented by Allen McConnell, Manager Minority Business Development Division Slide 1 Access to Financial Assistance

More information

Minority Business Development Division Allen McConnell, Manger (614) 752-4833 Allen.McConnell@development.ohio.gov www.development.ohio.

Minority Business Development Division Allen McConnell, Manger (614) 752-4833 Allen.McConnell@development.ohio.gov www.development.ohio. Minority Business Development Division Allen McConnell, Manger (614) 752-4833 Allen.McConnell@development.ohio.gov www.development.ohio.gov The State of Ohio is an Equal Opportunity Employer and Provider

More information

Small Business Administration: A Primer on Programs and Funding

Small Business Administration: A Primer on Programs and Funding Small Business Administration: A Primer on Programs and Funding Robert Jay Dilger Senior Specialist in American National Government Sean Lowry Analyst in Public Finance July 30, 2015 Congressional Research

More information

Discrimination Policy Statement

Discrimination Policy Statement Department of Wood and Paper Science Wood Products Extension Harry W. Watt, Business Improvement Specialist 132 Beckham Road Statesville, NC 28625-8109 e-mail: harry_watt@ncsu.edu 704-880-5034 (cell) General

More information

504 Loan Program. First Mortgage Lender Training

504 Loan Program. First Mortgage Lender Training 504 Loan Program First Mortgage Lender Training SBA programs are suited to businesses in various stages of development S T A R T U P Access to Capital 7a SCORE SBDC Management Assistant Programs Incentive

More information

U.S. SMALL BUSINESS ADMINISTRATION. Craig Jordan. Lead Lender Relations Specialist

U.S. SMALL BUSINESS ADMINISTRATION. Craig Jordan. Lead Lender Relations Specialist U.S. SMALL BUSINESS ADMINISTRATION Craig Jordan Lead Lender Relations Specialist James Pipper International Trade Officer GUARANTEED LENDING PROGRAMS UPDATE U.S. Government Export Financing Programs How

More information

SBA Loan Programs. Houston District Office. Manuel Gonzalez Houston District Director. July 24 th, 2014. Moving Forward with Excellence

SBA Loan Programs. Houston District Office. Manuel Gonzalez Houston District Director. July 24 th, 2014. Moving Forward with Excellence Houston District Office SBA Loan Programs Manuel Gonzalez Houston District Director July 24 th, 2014 Houston District Office Topics to be discussed : Overview of SBA Three SBA Loan Programs SBA Impact

More information

SBA Programs to Help You Start & Grow Your Small Business

SBA Programs to Help You Start & Grow Your Small Business SBA Programs to Help You Start & Grow Your Small Business U.S. Small Business Administration 6501 Sylvan Road, Suite 100 Citrus Heights, CA 95610 916-735-1700 www.sba.gov 08?11 BUSINESS LOANS & THE SBA

More information

W i n t r u s t B a n k

W i n t r u s t B a n k W i n t r u s t B a n k 1 WHO ARE WE Wintrust Financial is a financial services holding company We provide traditional community banking services, commercial banking, wealth management, commercial insurance

More information

SELF EMPLOYMENT SMALL BUSINESS OPPORTUNITIES

SELF EMPLOYMENT SMALL BUSINESS OPPORTUNITIES SELF EMPLOYMENT Objectives Participants will be able to: To understand the pros and con s of starting your own business To know where to find resources to help plan and execute your small business ideas

More information

SMALL BUSINESS LENDING OPPORTUNITIES FOR CREDIT UNIONS

SMALL BUSINESS LENDING OPPORTUNITIES FOR CREDIT UNIONS SMALL BUSINESS LENDING OPPORTUNITIES FOR CREDIT UNIONS February 14, 2012 Terrence K. McHugh President Commercial Alliance 1 Business Lending in Credit Unions 1998 regulation limits business lending in

More information

U.S. Small Business Administration

U.S. Small Business Administration U.S. Small Business Administration Federal Program Inventory FY 2013 Table of Contents What programs are included in the Federal Program Inventory?... 4 Small Business Administration total Budget Authority

More information

Financing for Businesses

Financing for Businesses Financing for Businesses The following overview of financing programs is for reference purposes only and is not presented as all inclusive. Obtain complete program guidelines from the respective program

More information

-SBA Financing- New Opportunities for Green Businesses & Sustainability Entrepreneurs

-SBA Financing- New Opportunities for Green Businesses & Sustainability Entrepreneurs -SBA Financing- New Opportunities for Green Businesses & Sustainability Entrepreneurs David Tiller Public Information Officer U.S. Small Business Administration-TN District Office Nashville, TN 615-736-7176

More information

For more information about SBA s disaster assistance programs, visit www.sba.gov/disaster or call our disaster assistance center at 1-800-659-2955.

For more information about SBA s disaster assistance programs, visit www.sba.gov/disaster or call our disaster assistance center at 1-800-659-2955. SBA Many communities are still feeling the effects of Superstorm Sandy, including power outages and flooding. The importance of listening to instructions and safety information from your local officials

More information

SMALL BUSINESS LENDING BILL PROVISIONS September 20, 2010

SMALL BUSINESS LENDING BILL PROVISIONS September 20, 2010 SMALL BUSINESS LENDING BILL PROVISIONS September 20, 2010 Below is a summary of provisions of the Small Business Lending bill that was debated and passed in the Senate during the week of September 13,

More information

Commercial Real Estate. Financing Programs. The SBA Adv. www.sba.gov/ma. www.sba.gov. Programs and services to help you start, grow and succeed

Commercial Real Estate. Financing Programs. The SBA Adv. www.sba.gov/ma. www.sba.gov. Programs and services to help you start, grow and succeed Commercial Real Estate Programs and services to help you start, grow and succeed Financing Programs The SBA Adv /ma Programs and services to help you start, grow and succeed We are the SBA History: Part

More information

SBA Financing Options

SBA Financing Options SBA Financing Options Frank Demarest, Deputy District Director 1 7(a) Loan Program SBA s primary business loan program Broad eligibility requirements Wide range of financing needs Increase in the maximum

More information

Kathleen.Piper@SBA.GOV (402) 221-7205

Kathleen.Piper@SBA.GOV (402) 221-7205 Service Disabled Veteran Owned Small Business S.A.M.E. INDUSTRY FORUM May 28, 2009, Omaha, NE Double Tree Hotel US Small Business Administration: Recovery Act Impact on Small Business Kathleen Piper, Nebraska

More information

CRS Report for Congress

CRS Report for Congress Order Code RL33243 CRS Report for Congress Received through the CRS Web Small Business Administration: A Primer on Programs January 20, 2006 N. Eric Weiss Analyst in Financial Institutions Government and

More information

SMALL BUSINESS JOBS ACT:

SMALL BUSINESS JOBS ACT: SMALL BUSINESS JOBS ACT: HIGHER MAXIMUM LOAN SIZES, REVISED SIZE STANDARDS What advantages does the Small Business Jobs Act bring to companies in Alabama? SBA Express: SBA Express loan limits have been

More information

OLR RESEARCH REPORT ANALYSIS OF STATE SMALL BUSINESS LOAN GUARANTEE PROGRAMS. By: Michelle Kirby, Associate Analyst

OLR RESEARCH REPORT ANALYSIS OF STATE SMALL BUSINESS LOAN GUARANTEE PROGRAMS. By: Michelle Kirby, Associate Analyst OLR RESEARCH REPORT February 19, 2013 2013-R-0054 ANALYSIS OF STATE SMALL BUSINESS LOAN GUARANTEE PROGRAMS By: Michelle Kirby, Associate Analyst You asked for an analysis of state small business loan guarantee

More information

U.S. SMALL BUSINESS ADMINISTRATION

U.S. SMALL BUSINESS ADMINISTRATION U.S SMALL BUSINESS ADMINISTRATION WASHINGTON, D.C. 20416 TESTIMONY OF MICHAEL A. CHODOS ASSOCIATE ADMINISTRATOR FOR ENTREPRENEURIAL DEVELOPMENT U.S. SMALL BUSINESS ADMINISTRATION BEFORE THE U.S. HOUSE

More information

Credit Connections Leveraging Resources to Strengthen Deals. U.S. Small Business Administration

Credit Connections Leveraging Resources to Strengthen Deals. U.S. Small Business Administration Credit Connections Leveraging Resources to Strengthen Deals U.S. Small Business Administration 1 Lenders Benefits of SBA Loans SBA s Guaranty reduces a Lender s Risk Helps lenders make loans with longer

More information

An Introduction to the SBA 7(a) and 504 Loan Programs

An Introduction to the SBA 7(a) and 504 Loan Programs An Introduction to the SBA 7(a) and 504 Loan Programs Edward W. Ahart, Esq. Thomas L. Hofstetter, Esq. 220 Park Avenue Florham Park, NJ 07932 (973) 539-1000 Partner at Schenck Price Smith & King, LLC in

More information

U.S. Small Business Administration. The SBA Advantage. Resources and Programs for Success

U.S. Small Business Administration. The SBA Advantage. Resources and Programs for Success U.S. Small Business Administration The SBA Advantage Resources and Programs for Success The SBA Advantage Millions of entrepreneurs use SBA resources and programs to: Start or grow a business Effectively

More information

SMALL BUSINESS RESOURCE GUIDE. CONGRESSMAN RAÚL M. GRIJALVA Avondale Office: 623-536-3388 Website: www.grijalva.house.gov

SMALL BUSINESS RESOURCE GUIDE. CONGRESSMAN RAÚL M. GRIJALVA Avondale Office: 623-536-3388 Website: www.grijalva.house.gov LOCAL RESOURCES: SMALL BUSINESS RESOURCE GUIDE CONGRESSMAN RAÚL M. GRIJALVA Avondale Office: 623-536-3388 Website: www.grijalva.house.gov U.S. SMALL BUSINESS ADMINISTRATION Congress created the U.S. Small

More information

2030 Districts. Project. Financing. Tookit. Small Business Association. Financing

2030 Districts. Project. Financing. Tookit. Small Business Association. Financing 2030 Districts Project Financing Tookit Small Business Association Financing Project Financing Toolkit Small Business Association Financing (SBA) The Small Business Association s (SBA) core programs offer

More information

HOW TO LAND AN SBA Loan

HOW TO LAND AN SBA Loan HOW TO LAND AN SBA Loan by Ron Box, CPA/CITP/CFF With all of the uncertainty around maintaining a predictable flow of capital to businesses, a commercial loan provided by a bank but guaranteed by the federal

More information

NAVIGATING TODAY S CREDIT JUNGLE ALTERNATIVES

NAVIGATING TODAY S CREDIT JUNGLE ALTERNATIVES NAVIGATING TODAY S CREDIT JUNGLE AN OVERVIEW OF SBA FINANCING ALTERNATIVES November, 2011 Timothy D. Dixon Head of Small Business Administration (W) 216-514-5431 timothy.dixon@citizensbanking.com 1 Discussion

More information

Frequently Asked Questions about Physical Disaster Business Loans

Frequently Asked Questions about Physical Disaster Business Loans Frequently Asked Questions about Physical Disaster Business Loans Q. How much can I borrow? A. The amount of money that the SBA will lend you will be based upon the actual cost of repairing or replacing

More information

ILLINOIS BUSINESS FINANCING MATRIX

ILLINOIS BUSINESS FINANCING MATRIX A Guide of Federal, State and Regional Loan Incentive and Grant s for Business and Economic TERM RATE FEES 7(a) Loan Guaranty The s primary loan program Business start ups or expansion; construction of

More information

LENDERS SUMMARY OF 504 RULES

LENDERS SUMMARY OF 504 RULES LENDERS SUMMARY OF 504 RULES Eligibility applies to Nine areas 1. Size 2. Credit Not Available Elsewhere 3. Personal Resources of the Borrower 4. Use of Proceeds 5. Types of Businesses 6. Job Criteria(Economic

More information