Tag Archives: administration
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.
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.
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 …Read More
Designed for businesses looking to purchase an existing business, expand to another location, buy equipment, acquire land or a building, or a combination. If you have industry experience and a good business plan, you may find a local lender willing to help you with an SBA startup loan. Use of Proceeds: A business may borrow for anything on the balance sheet such as inventory, receivables, land, buildings, machinery, equipment, furniture, fixtures, autos, trucks, accounts payable.
This may not seem like much to some business owners, but the most successful companies have started out by getting micro-loans. A key focus is on the historical origins of the tensions amongst wealth, virtue, and business and society in developed and developing nations and economies.
With SNHU’s BS in Business Administration – Small Business degree online, you’ll gain the essential business knowledge you need to start or successfully manage a small business, including budgeting, funding, operations and writing a business plan. In addition, SBA will leverage its outreach by working with state, federal, and other resource partners in order to promote customized trade financing options to the small business exporting community.
Historically, only 25% of the applicants or about 500-600 applicants per year get through the burdensome process for a final decision from the Associate Administrator of the Office of 8(a) Business Development. The Small Business Administration guarantees part of the loan, but the SBA doesn’t actually lend any funds.
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. During this financially turbulent time, merchant loans have always been available for small business owners who operate retail and/or service-oriented businesses.…Read More
The Senate Small Business and Entrepreneurship Committee voted Tuesday to approve former World Wrestling Entertainment head Linda McMahon to lead the Small Business Administration (SBA). Expand small business access to export financing by increasing the number of lenders providing export financing solutions from 430 to 555 and the number of small business exporters receiving financing through SBA loan programs from 1,346 to 1,480 by FY2015.
Large bank institutions, such as Chase, Bank of America and Wells Fargo, generate the bulk of their SBA loan volume by loans, especially the express loan and line of credit, offered to those who would be declined for ‘normal’ bank credit due to factors such as length of time in business or slightly more conservative underwriting factors.
Programmatic changes resulting from enactment of P.L. 111-5, the American Recovery and Reinvestment Act of 2009, P.L. 111-240, the Small Business Jobs Act of 2010, and P.L. 112-239, the National Defense Authorization Act for Fiscal Year 2013, are discussed.
When, following the suggestion of President Eisenhower, congress passed the Small Business Act and created the U.S. small Business Administration (SBA) in 1953, its stated mission was to aid, counsel, assist and protect, insofar as is possible, the interests of small business concerns,” and also ensure small businesses a fair proportion” of government contracts.
This week the Obama administration has indicated that they intend to rely heavily on the existing infrastructure of the Small Business Administration to get funds moving once again through the banking system and into the hands of small business owners.…Read More