SBA Considers Increasing Surety Bond Guarantees in Wake of Disasters

In the midst of tornado season and as oil spills into the Gulf of Mexico, small businesses nationwide look to operate in battered regions. A number of changes proposed by the Small Business Administration plan to help small and minority contractors land large contracts in disaster areas by increasing surety bond guarantee limits. Plan Details The […]

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Senate Extends SBA Stimulus Measures

On March 2, 2010, the U.S. Senate passed a bill that includes an extension of the Small Business Administration’s stimulus provisions.  The final vote was 79-19, with 21 Republicans backing the bill, and the legislation was signed into law by President Obama on March 2, 2010.  The House of Representatives had passed the bill on […]

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SBA Stimulus Funding Extended Through February

Small businesses can breathe a sigh of relief — a much needed influx of funding to the SBA’s watershed recovery program is on the way. Congress agreed last month to extend funding for the SBA Recovery Act through February. Part of the Obama administration’s massive economic stimulus plan, the legislation boosted funding to the agency’s […]

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Possible Quick Increase in SBA Lending

Small businesses suffering through a bleak economic stretch may get an injection of much-needed capital in the coming weeks. Hoping to spur continued economic recovery, President Obama met with some of the nation’s top banking officials this week. During their meeting, the president urged lenders to target money toward American small businesses. The gathering included […]

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SBA Stimulus Cash Down to Zero

Small business owners have drained the Small Business Administration’s two most popular loan programs of excess stimulus funds, a shortage that could send loan volumes tumbling without government action. Hoping to spur small business growth, the federal government earlier this year injected about $375 million into the SBA’s 7(a) and 504 loan programs. The influx […]

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SBA Boosts Surety Bond Guarantee to $5 Million for Small Businesses

Small business owners who work on projects requiring surety bonds have received a boost from the federal government. The Small Business Administration can now guarantee bonds on contracts up to $5 million for small businesses that otherwise struggled to obtain surety bonds through traditional channels. This temporary increase – a full $3 million higher than […]

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Small Businesses May Be in Line for a Big Lift Thanks to TARP Funds

American small businesses might be in for a huge boost thanks to the Obama administration. The federal government is considering whether to inject millions, if not billions, of dollars into the Small Business Administration’s 7(a) loan program, according to recent published reports. The additional funding would come from the Troubled Assets Relief Program, or TARP, […]

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SBA to Spur Growth with New 504 Loan Requirements

The U.S. Small Business Administration has permanently altered a loan program for entrepreneurs, part of a national push to help beleaguered business owners spark economic turnaround. The agency announced Wednesday that it would expand its popular 504 lending program to help small business owners refinance for the purposes of expanding or purchasing new equipment or […]

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Q2 2009 SBA Lending Down 30%

Yes, as CNN Money reports, that’s a grim headline.  But, the news on the SBA loan front isn’t all bad. One vote of confidence can be found in the increase in lending after the Stimulus Act was signed. “Comparing the months before and after the February 17 stimulus signing, the SBA reports a 24% jump […]

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New SBA Micro Loans for Struggling Businesses

On June 15, the SBA began it’s new micro loan program, appropriately titled “America’s Recovery Capital Loan Program.” The program was created to help small business owners pay existing debts and make meeting payroll easier. Borrowers can get SBA guaranteed loans of up to $35,000 which can be applied to meeting short term debt obligations […]

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