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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 SBA launches temporary commercial mortgage loan program

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Colorado Engineering wins SBA award

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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 Colorado Engineering wins SBA award

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SBA, Microsoft create tech tool

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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 SBA, Microsoft create tech tool

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SBA resumes 90% guarantees on 7(a) loans

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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 SBA resumes 90% guarantees on 7(a) loans

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SBA catches up on loans after Act passes

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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 SBA catches up on loans after Act passes

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SBA loans jump in fiscal 2010

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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… Continue Reading SBA loans jump in fiscal 2010

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The Internal Revenue Service has issued guidance for small businesses to determine whether they are eligible for the health care tax credit under the Affordable Care Act. The guidance explains that small businesses that receive the state health care tax credits may still qualify for the full federal tax credit. And, the guidance allows small… Continue Reading IRS answers small biz questions about Affordable Care Act

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Small Business Administration recovery lending has been extended through April. Signed by President Barack Obama on Friday, the legislation will enhance the SBA’s  two largest small business loan programs. First made available under the American Recovery and Reinvestment Act, the enhancements include fee relief and a higher guarantee on some SBA-backed loans. The $40 million extension will… Continue Reading SBA recovery lending extended through April

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SBA extends incentive period

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Incentives for Small Business Administration loans have been extended until March 28. The Temporary Extension Act of 2010 provides funds to eliminate or reduce fees on SBA 503 loans and temporarily restores the 90 percent guarantee on SBA 7(a) loans. Signed by President Obama, the extension authorizes higher guarantee levels. The fee relief is available… Continue Reading SBA extends incentive period

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  The Colorado Procurement Technical Assistance Center, a statewide organization designed to provide government contract assistance, opened this morning in Colorado Springs at 6 S. Tejon St, Ste. 850. About 60 people from the business community showed up at the Pikes Peak Center to celebrate its opening. PTAC’s goal is to increase the number of local… Continue Reading PTAC opens to assist businesses gain government contracts

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