Small Business Administration Grants

On April 26th, Ajit Pai, FCC Chairman, gave a speech in Washington where he announced his move to undo an Obama-era FCC regulation against broadband internet providers. America’s 28 million small business owners are the engine of job creation and economic growth in this country, creating nearly two out of every three net new jobs in the United States, and employing over half of the nation’s workforce. SBA’s four basic loan programs are: Guaranteed Loans, Certified Development Company Loans or 504 Loan Program, Small Business Investment Companies, and Microloans.small business administration

This type of bank loan, which is partially guaranteed by the U.S. Small Business Administration (SBA), is designed to help small businesses get essential financing with affordable terms. Providing access to capital has been one of the SBA’s critical strategies in meeting its objective to drive business formation, job growth, and economic expansion particularly in underserved markets since the Agency’s creation in 1953.

SBA will increase small business access to capital by increasing the number of new or returning lenders in the fiscal year for the flagship 7(a) program (including the Community Advantage pilot program). More generous underwriting requirements: In many cases, SBA loans give small businesses access to bank financing when they don’t qualify for conventional loans.

Regarding repairs, equipment replacement, and timelines to open: be conservative – most lenders will want to see a 10% buffer built into your business plan. Include a resume for each owner, describing their educational and business background. Liquidation activities and prime contract administration transferred to the SBA by the Small Business Act of 1953, and EO 10504, December 1, 1953.small business administrationsmall business administration

Tax season is in full swing, and I wanted to share some of the small business web pages and the new social media tools IRS offers to help you and your members/clients keep up with all the latest information. The decline in access to business development creates an increase in the number of firms that are terminated each year because they do not stay connected to the SBA and do not meet program requirements for annual reviews.


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