Seven Colorado banks and credit unions have signed up to participate in the Small Business Administration’s Export Express loan guaranty program. It means more access to capital for small businesses interested in beginning or expanding their export services. Seven private lenders, covering most counties in Colorado, have signed agreements to participate in the program. SBA [...]
Continue reading …Black Friday kicked off the season of the part-time worker. The National Retail Federation predicts that nationwide retailers will hire about 500,000 seasonal employees this holiday season. Dan Hannaher, Small Business Administration regional administrator whose region includes Colorado, said, “hiring extra help for the hoped-for push should be thought out more than ever.” He offers [...]
Continue reading …Colorado small businesses were loaned more money in 2011 through the U.S. Small Business Administration loan program than in years past. The state had record breaking numbers SBA backed loans in 2011, which follows a national trend of increasing SBA-backed lending. “Due to the Small Business Jobs Act and a return to pre-recession lending levels, [...]
Continue reading …The U.S. Small Business Administration wants to adjust the size definition of small businesses in the transportation and warehousing sector. The SBA says raising the revenue limits to qualify as a small business reflects changes in the marketplace in the transportation and warehousing sector. The suggested change will affect 22 industries in that economic sector. [...]
Continue reading …The U.S. Small Business Administration has launched a temporary program aimed at helping small business owners with commercial mortgages. Small business owners who have balloon payments for commercial mortgages before Dec. 31, 2012, may be able to refinance their mortgage debt with a 504 loan. Structured like the SBA’s traditional 504, the loan requires borrowers to [...]
Continue reading …Colorado Engineering Inc., a high-tech defense contractor based in Colorado Springs and led by CEO Nancy Scally, has won a prestigious award from the U.S. Small Business Administration as a leader in innovation and job creation. The company is one of 44 small businesses nationwide honored with a Tibbetts award for outstanding participation in the [...]
Continue reading …The Small Business Administration has launched a technology tool for small businesses. The tool, Business Technology Simplified, could help small business owners grow and create jobs, by showing them how to connect entrepreneurship with technology. The SBA and Microsoft collaborated to develop the free guidebook, which includes fundamentals on the importance of technology and how it can be used to [...]
Continue reading …The Small Business Administration has resumed guaranteeing 90 percent of loans made through its flagship 7(a) program. The incentive was created to help SBA lending rebound after it cratered during the financial crisis of 2008. The 90 percent guarantee, up from the typical 75 percent, was first funded by the economic stimulus bill, which also [...]
Continue reading …After months of backlog, all applications in the Small Business Administration’s loan queue have received final approval. The approval amounts to almost $970 million, or 1,939 loans, all because the Small Business Jobs Act of 2010 was passed Sept. 27. The act provided funding for the extension of increased guarantees and reduced fees in SBA’s two [...]
Continue reading …Small Business Administration loans appear to have rebounded in fiscal year 2010. Loan enhancements first put in place under the American Recovery and Reinvestment Act of 2009, and extended last week in the Small Business Jobs Act of 2010, have driven SBA-backed lending. In the past fiscal year, SBA supported more than $22 billion, or [...]
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