U.S. Small Business Administration Archives

SBA loans to Hispanic or Latino-owned businesses growing

New U.S. Small Business Administration (SBA) data shows the number, rate and share of SBA-backed loans going to Hispanic or Latin-owned businesses have grown significantly under the Biden Administration.

The SBA said it has backed more than 7,300 SBA loans to Latino-owned businesses so far in Fiscal Year 2023 through the 7(a) and 504 programs. Total loan dollars ($2.8 billion) and overall share of SBA-approved loans (12.2%) to Latino-owned businesses are both up more than 1.5 times since Biden took office.

SBA Administrator Isabella Casillas Guzman joined Congressional Hispanic Caucus (CHC) Chairwoman Nanette Barragán, D-California, and other CHC members in Orlando to announce the new data.

“America’s more than five million Latino-owned small businesses create jobs, deliver over $800 billion to our economy every year, and add to our nation’s global competitiveness—and they could do even more if we invested in them equitably,” Guzman said. “We are seeing a small business boom and the fastest creation rate of Latino-owned businesses in over a decade.”

Guzman added, “Since day one of the Biden-Harris Administration, the SBA has been committed to expanding access to capital and addressing historic gaps in small business lending to this highly entrepreneurial community and this 1.5x increase in loans to Latino-owned small businesses demonstrates the positive impact of President Biden’s economic agenda. We are on the right path, and we will continue to do more to deliver the needed funding to advance opportunities for all.”

Under the Biden-Harris Administration, the United States has experienced a historic small business boom being led by women and people of color, with 13.6 million new business applications filed since President Joe Biden took office, a rate 65% faster than the pre-pandemic average.

SBA said it has taken significant steps aligned with the president’s Investing in America agenda to increase access to its core capital programs, including among Latino entrepreneurs. These include:

Expanding the Community Advantage Program, which supports lending to small businesses in underserved communities through mission-driven, community lenders, and making mission-oriented lending a permanent part of the SBA loan program through the Community Advantage Small Business Lending Company license;
Deploying the $100 million Community Navigator Pilot Program funded under President Biden’s American Rescue Plan;

Launching the Biden-Harris Administration’s cross-country Latino Prosperity Tour;
More than tripling the number of Women’s Business Centers at Hispanic-Serving Institutions; and
Implementing new reforms to address persistent capital access gaps.

“Latino-owned businesses are seeing the fastest creation rate in more than a decade due to the deliberate efforts of the Biden-Harris Administration. The U.S. Small Business Administration’s new benchmark loan numbers show a strong uptick in lending to Latino small business owners,” Barragán said.

While there is a long way to go to fully ensure equal opportunity for all Latino small businesses, the SBA and Biden Administration initiatives have allowed more Latino small business owners across America to access much-needed capital, Barragán said.
“The Congressional Hispanic Caucus applauds this promising trend and remains committed to working alongside the Administration to deliver positive results for Latino small businesses,” she added.

Berks County business receives SBA honor

Shoemakersville, Berks County-based Royal Truck & Equipment was honored by the U .S. Small Business Administration (SBA) Thursday during the federal agency’s 70th anniversary celebration.

Royal Truck & Equipment, which was chosen as the SBA’s Eastern Pennsylvania Legacy Business, makes truck mounted attenuators and traffic control trucks that daily save the lives of motorists and construction workers involved in highway construction and maintenance, SBA said.

The company’s president, Rob Roy, was honored in 2019 as the SBA Eastern Pennsylvania Small Business Person of the Year.

“Royal Truck & Equipment is a business that literally drives our nation’s economy,” said SBA Mid-Atlantic Regional Administrator John Fleming. “Administrator (Isabella Casillas) Guzman and the Biden-Harris Administration are putting small businesses at the forefront of President (Joe) Biden’s historic Investing in America agenda: modernizing SBA programs and resources, expanding networks, and increasing access to capital and contracting so more small businesses can capitalize on national investments in our infrastructure and more.”

SBA resource partner, Lehigh University Small Business Development Center, helped Royal Truck & Equipment buy its second facility and assisted in securing contracts with many Departments of Transportation projects throughout the US, SBA said.

More recently, the SBA’s emergency pandemic programs helped Royal Truck & Equipment, which was founded in 1986 and located at 1100 Pottsville Pike, retain employees on payroll through the Paycheck Protection Program.

“The SBA is focused on ensuring small businesses can capitalize on opportunities and pivot quickly and effectively in our dynamic American economy,” said SBA Eastern Pennsylvania District Director Steve Dixel. “We are excited to celebrate Royal Truck & Equipment as our Legacy Business and recognize the support the business received to survive and thrive through the assistance of our SBA programs and partners.”

Roy’s mission of making work zones safer workplaces has grown beyond TMA trucks to technologically advanced and patented safety features and systems including the world’s first autonomous TMA truck system, AI harsh driving and collision warning systems, virtual reality training, and connected technology by iCone.

Royal Truck & Equipment now provides safety solutions in other industries including utilities, fire, towing, and incident response.

“Our team at Royal Truck & Equipment is honored to be named as the Eastern Pennsylvania Legacy Business by the U.S. Small Business Administration. The support we have received from the SBA has allowed us to create innovative products that help keep workers safe, create jobs and help drive the economy,” Roy said.

Biden-Harris Administration aims to modernize small business program

Effective Aug. 17, Small Business Investment Company (SBIC) program modernization will increase access and diversity funding for the small business, start-up, and investment management communities, the Biden-Harris Administration announced.

Administrator Isabella Casillas Guzman announced on Wednesday the U.S. Small Business Administration (SBA) finalizing a rule to modernize the SBIC program. The SBIC Investment Diversification and Growth final rule is designed to seed America’s next generation of fund managers and increase funding for underserved and undercapitalized markets.

“SBIC-licensed funds have seeded and scaled some of the most innovative and successful businesses in the world and helped small businesses sustain operations across the country by helping them bridge capital gaps to build innovative and resilient businesses,” Guzman said in a statement.

“This final rule will unlock unrealized potential and strengthen, diversify, and expand our network of SBIC licensed private funds to address capital deficiencies in underserved small businesses, startups, and critical U.S. industries impacting our nation’s security.”

Historically, aspects of the SBIC Program have limited the flow of equity and growth-oriented debt investments from SBIC-licensed funds to small businesses and start-ups operating in underserved communities, capital-intensive industries, and technology areas critical to U.S. national security and economic development. The SBIC Investment Diversification and Growth Rule addresses communities, industries, and technologies not sufficiently financed by private market investors due to lack of access, duration of investment, risk/return profile, or magnitude of capital required.

Bailey DeVries, associate administrator for Investment and Innovation and acting associate administrator for Capital Access, said public-private SBIC partnerships have advanced the growth of industries by financing start-ups and small businesses important to communities and the national supply chain.

“With the modernization of SBIC regulations, SBA will play an enabling role in partnering with return-seeking private investors to fund businesses in corners of the economy critical to our national security and economic success,” said DeVries.

SBA launches program to aid military spouse entrepreneurs

The U.S. Small Business Administration (SBA) launched a new business training program today for military spouses.

“The Military Spouse Pathway to Business Program” supports the recent White House Executive Order 14100, which strengthens economic opportunities for military and veteran spouses, caregivers and survivors, the SBA said.

Military Spouse Pathway to Business classes will be hosted nationwide, in-person and virtually, throughout the year, SBA said. Participants will learn key steps for evaluating business concepts and receive the foundational knowledge required to develop a business plan.

“The Biden-Harris Administration is working hard to create more economic opportunities for military families, backed by the recent release of the President’s Executive Order and the First Lady’s Joining Forces initiative,” said SBA Administrator Isabella Casillas Guzman. “At the SBA, we are investing in our veterans and military families by creating pathways to entrepreneurial success to ensure they can be a part of the small business boom that has helped spur job creation and innovation across the nation. America’s military spouses have served our country, and the SBA is ready to support them with customized programs and layered support resources so they can pursue their dreams of business ownership.”

SBA District Offices and SBA Resource Partners offer these courses, which provide the same counseling and training, access to capital, federal contracting, and disaster assistance available to service members and veterans.

“The course is designed similarly to SBA’s Boots to Business and Boots to Business Reboot courses offered by the SBA but takes into account the unique experience of military spouses,” said Timothy Green, acting associate administrator for the Office of Veterans Business Development. “Military spouses have been and are still encouraged to attend those programs; however, the Military Spouse Pathway to Business program gives military spouses a dedicated curriculum, peer group, and schedule that may be better suited for them.”

The course introduces a broad spectrum of entrepreneurial business concepts such as market research, economics, legal considerations, and finances. SBA said each class will offer additional resources for accessing startup capital, receiving technical assistance, earning contracting opportunities, and more.

Military spouses interested in taking the course can sign up for an in-person or virtual class or reach out to their local Veterans Business Outreach Centr or SBA District Office for more information.

To learn about SBA programs and resources for military spouses, visit www.sba.gov/milspouse.

Gov. Shapiro secures SBA loans for businesses hit by R.M Palmer factory explosion

Businesses affected by the R.M. Palmer factory explosion in West Reading on March 24 are eligible for Economic Injury Disaster Loans.

Gov. Josh Shapiro announced today that the U.S. Small Business Administration (SBA) has granted an administrative declaration of a disaster for at least five businesses impacted by the factory explosion and will provide low-interest loans up to $2 million to meet financial obligations and operating expenses that could have been met had the disaster not occurred.

The SBA tailors the repayment of each disaster loan to the borrower’s financial capability.

“I was in West Reading meeting with local officials and community members immediately following the factory explosion, and I promised that my administration would be there for the long-term to help them recover and rebuild,” Shapiro said. “That’s why we worked with the federal government to open up access to these low-interest loans, so that businesses can recoup unforeseen losses and ensure West Reading remains a vibrant city. My heart goes out to the people impacted by this tragedy, and the Shapiro Administration will continue to provide the resources and support West Reading needs.”

Following the explosion, Shapiro deployed the Pennsylvania Emergency Management Agency (PEMA) and the Pennsylvania State Police (PSP) to support emergency response, search, and rescue efforts.

Shapiro visited the site of the explosion the following day and his administration has been in close contact with officials in West Reading since the beginning of the incident.

Shapiro wrote a letter to the SBA requesting disaster loan assistance following information provided by PEMA, who worked with Berks County to conduct sample surveys of the affected businesses to determine the economic impact of the disaster, his administration said.

Loan applications will be made available online or by mail.

Summit to aid small businesses from cyber attacks

To help small business owners protect information from cyber attacks, the U.S. Small Business Administration (SBA) is hosting its 2nd annual Cyber Summit during Cyber Security Awareness Month in October.

The free cybersecurity series supports America’s 33 million small businesses with tools, tips, and resources from multiple federal agencies to bolster their cybersecurity infrastructure, in addition to exploring new trends and challenges entrepreneurs are increasingly facing.

“Digital tools represent some of the most exciting revenue growth opportunities for American small businesses – from the $5.2 trillion global e-commerce marketplace to cutting-edge AI and other digital tools,” said SBA Administrator Isabella Guzman. “As small businesses increasingly rely on technology to start and grow their businesses, our SBA Cyber Summit and our work modernizing the SBA will help more entrepreneurs make the digital pivot safely by leveraging SBA resources and private sector solutions to defend their businesses, their customers, and their livelihoods from the ever-evolving threats from cyber criminals.”

According to the FBI’s Internet Crime Report, the cost of cybercrimes against the small business community reached $3.31 billion in 2022.

Small businesses are attractive targets because they have information that cybercriminals want, and they typically lack the security infrastructure of larger businesses, SBA said.

Surveys have shown that a majority of small business owners feel their businesses are vulnerable to a cyberattack. Yet many businesses cannot afford professional IT solutions, have limited time to devote to cybersecurity, or do not know where to begin. The 2nd Annual SBA Cyber Summit will address these formidable challenges with turnkey solutions.

“The rapidly evolving and interconnected world continues to present new challenges for small business owners, and it is our objective to empower them with the proper tools, said SBA Associate Administrator of the Office of Entrepreneurial Development Mark Madrid. “Through our SBA Cyber Summit, the goal is to bolster the confidence and the know-how of our resilient U.S. small businesses to deal with these cyber challenges head-on.”

Registration for the event is open to all and free. Sign up at https://bit.ly/SBACyberSummit2023.

Biden-Harris Administration announces alliance to support small business exporters

A new agreement aimed at aiding small business exporters was announced Wednesday.

The signing of the Strategic Alliance Memorandum (SAM) with the International Trade & Forfaiting Association (ITFA) was announced by the U.S. Small Business Administration (SBA). The memorandum will formalize relations with the Trade Association.

The ITFA and SBA will seek to educate explorers and lenders on financing methods and risk mitigation solutions necessary to facilitate global trade.

Associate Administrator of SBA’s Office of International Trade Gabriel Esparza said the joint effort seeks to build capacity for exporting through education and technical training for lenders and small businesses and will help leaders in the ITFA and SNA grow support for export finance.

“By doing so, this partnership helps deliver on the Biden-Harris Administration’s commitment to create opportunities for small businesses and strengthen our economy for all of us,” Esparza said in a statement.

The new agreement between SBA and ITFA looks to build capacity for exporting through education and technical training for lenders and small businesses. The SBA’s Total Addressable Market Study lists more than $1.3 million small business exporters and a potential export market of 2.6 million.

The joint agreement formalizes SBA’s relationship with ITFA, a global trade association representing the interests of banks, financial institutions, and service providers involved in trade risk and asset organization and distribution.

“This milestone joint effort opens doors to immense opportunities, offering greater access to education and global resources for Small and Medium Sized Enterprises (SMEs) in the U.S., which may be unaware of alternatives to better manage their credit risks and satisfy their credit needs with the help of our members from around the world,” ITFA Chairman Sean Edwards said.

“By leveraging our combined efforts, we are propelling economic growth and creating a thriving ecosystem that benefits both our members and the SMEs they serve. Together, we will forge new paths, unlock fresh avenues of collaboration, and usher in a new perspective for SMEs looking to expand globally.”

The SBA works to support small and midsized exporters, the goal being to increase the number of businesses exporting and the dollar value of those exports. SBA offers access to education and technical assistance, access to capital, and trade policy to support market access for small businesses.

Small, disadvantaged businesses to gain access to increased federal contracting

A new initiative to increase federal contracting with small, disadvantaged businesses was announced Thursday by the Biden-Harris Administration.

The 8(a) MAS Pool Initiative is a joint effort by the U.S. Small Business Administration (SBA) and U.S. General Services Administration (GSA) to help small, disadvantaged businesses (SDBS) in the 8(a) Business Development Program gain access to additional federal contracts in GSA’s Multiple Award Schedule (MAS) Program.

By establishing a pool of 8(a) firms, procurement officials will find it easier to locate and contract with SBDs across industries. The joint initiative between the SBA and GSA is aimed at increasing federal contracting opportunities for minority-owned and other small, disadvantaged businesses.

Participants accepted into the 8(a) MAS Pool will receive a designation indicating to buyers that the business is eligible for awards. Federal agencies can then leverage the size and scale of the MAS marketplace to achieve their contracting goals.

“We know America’s diverse small business communities provide tremendous value to our government and to taxpayers,” said GSA Administrator Robin Carnahan said in a press release. “We’re excited about this new pool that will make it easier for federal acquisition professionals to find them, buy from them, help them create jobs, and advance agency missions across government.”

Guided by an executive order advancing racial equity and support for underserved communities, the MAS Pool will seek to create new avenues for minority-owned small businesses to compete in the marketplace.

The 8(a) Business Development Program provides opportunities for socially and economically disadvantaged participants to develop and grow their businesses, create wealth, and generate jobs in underserved communities. Business development training with SBA’s district teams is part of the program, along with one-on-one counseling, business workshops, and management and technical guidance.

Underserved small business owners to get boost from new USBA rules

Two rules to address persistent gaps in access to capital impacting small business owners have been finalized by the U.S. Small Business Administration.

The rules impact small business owners in underserved communities and grant permanence to SBA’s program for nonprofit mission lenders, remove outdated limits on non-depository lender participation, increase opportunities for employee ownership, and modernize the credit criteria and underwriting standards to incentivize a wider distribution network and small-dollar loans.

SBA Administrator Isabella Casillas Guzman said in a statement that modernizing and expanding SBA’s lending programs will open new opportunities to entrepreneurial but underserved communities that have been denied access to the funding needed to create jobs and grow the economy.

“Equity has been a top priority of the Biden-Harris Administration since day one as our economy needs all of our great ideas and talented entrepreneurs,” said Guzman. “These rule changes demonstrate that commitment by providing government-guaranteed lenders with all the tools they need to close the gaps that still exist for small businesses who need capital.”

SBA’s rules will help new entrepreneurs grow their businesses by addressing capital access market gaps in underserved communities and expanding the number of participating SBA lenders.

To increase the number of credit-worthy business owners who can access SBA loans, particularly among underserved communities like women, minority, veteran, and rural entrepreneurs, SBA is modernizing the lending criteria and conditions for its business loan programs and reducing red tape for SBA lenders. SBA is achieving this by updating lending criteria for its 7(a) and 504 loan programs, including by:

Allowing lenders to make SBA loan decisions based on their existing credit policies for similarly sized non-SBA loans.
Providing additional flexibility for loans under $150,000 to reduce the cost and complexity of small-dollar lending.
Streamlining paperwork required of lenders, enabling them to spend more time with applicants and make loans more efficiently.
Simplifying and clarifying affiliation standards to ease the burden on small business owners and lenders and make clear who qualifies for an SBA loan.

SBA will expand the number of lenders who can offer SBA-guaranteed loans, providing small businesses with more options for meeting their capital needs. The rule will expand the number of Small Business Lending Company (SBLC) licenses, which promote responsible small business lending through non-depository lenders backed by SBA loan guarantees.

SBA is addressing capital access gaps by granting permanence to SBA’s program for nonprofit, mission-oriented lenders by creating a new Community Advantage SBLC license. Community Advantage lenders have lacked long-term certainty about their participation in SBA programs due to the pilot status of the program.

Despite these limitations, SBA said the Community Advantage Pilot Program has demonstrated success with higher rates of lending to Black, Hispanic, women, and veteran-owned businesses.

SBA’s rule will achieve the following:

Lift the moratorium on new regular SBLCs and allow for additional licensees, enabling them to make loans to small-dollar borrowers with government guarantees, reducing risks and broadening opportunities.

Provide certainty through permanence of Community Advantage, encouraging current and new nonprofit lenders to invest in and expand SBA lending operations.
Utilize modern technology to make lender oversight and borrower protection stronger and less resource-intensive than was possible when the SBLC moratorium was put in place.

These rules build upon a previous announcement on the Community Advantage Pilot Program that increased the maximum loan size from $250,000 to $350,000, lifted the four-year lender moratorium, enabled the SBA to expand the lender network, and allowed lenders to offer lines of credit, interest-only periods, and other loan modifications that meet the needs of small business borrowers.

Patrick Kelley, associate administrator for the SBA’s Office of Capital Access, said it’s imperative that entrepreneurs from underserved communities have access to stable and affordable capital to grow and expand their businesses.

“With these new rules, the SBA is taking steps to invest in credit-worthy entrepreneurs and mission-oriented lenders, which will build on the Biden-Harris Administration’s progress to date,” said Kelley.

C-suite level training offered for small business leaders

Small business leaders can apply for free c-suite level training.

The U.S. Small Business Administration (SBA) said Thursday the 2023 applications for T.H.R.I.V.E. Emerging Leaders Reimagined, formerly known as Emerging Leaders, will be accepted through April 30.

“T.H.R.I.V.E. Emerging Leaders Reimagined initiative will provide up-and-coming small business leaders with tools, knowledge, and access to the best and the brightest minds in economic development and business,” said Assocaite Administrator of the Office of Entrepreneurial Development Mark Madrid. “Under the Biden-Harris Administration and Administrator Guzman’s leadership, the SBA continues to do everything possible to empower small business owners to help them grow and continue powering our nation’s historic economic growth. We are energized, mobilized, and ready to go.”

The SBA’s T.H.R.I.V.E. Emerging Leaders Reimagined provides free entrepreneurship education and training for executives of high-performing small businesses. The six-month intensive executive entrepreneurship training series will include in-person coaching, self-paced instruction, mentoring, and classroom time.

The program is designed for participants to work with a network of experienced subject matter experts in core business topics like accounting, business strategy, marketing, and human resources, customized for the unique needs of small business owners.

For T.H.R.I.V.E. eligibility requirements, registration, and training locations, visit www.sba.gov/thrive.

Veterans, underserved populations to benefit from SBA, VetCert

As part of the Biden-Harris Administration’s commitment to expanding access to resources for veterans and other underserved populations, the U.S. Small Business Administration (SBA) is accepting applications through the Veteran Small Business Certification (VetCert).

VetCert’s improvements in the customer experience for veteran entrepreneurs and business will expand upon the $25 billion in government contract spending with service-disabled veteran-owned small businesses (SDVOSBs) in Fiscal Year 2021. 

Administrator Isabella Casillas Guzman said in a statement the SBA’s new veteran small business certification program is designed to deliver support skilled entrepreneurs from America’s military community.

“Supporting these veteran entrepreneurs with access to government contracting,” said Guzman, “will ensure they can continue their valued service to the American people, whether working in manufacturing, retail, R&D, or helping us build critically needed infrastructure to promote America’s long-term growth, job creation, and wealth generation.”

Denis McDonough, Secretary of Veterans Affairs, cited service to nation as a reason for small businesses owned by veterans being eligible for key benefits.

The transfer of veteran certification responsibility from the Veterans Administration (VA) to the SBA aligns with the Biden Administration’s focus on stronger interagency collaboration, with the belief that two agencies working together benefits the veteran community and the country.   

The program will be the agency’s primary certification vehicle for all veteran-owned small businesses (VOSBs) and SDVOSBs, important classifications that enable those businesses to qualify for sole-source and set-aside federal contracting awards. Certified VOSBs are eligible to compete for sole-source and set-aside contracts at the Department of Veterans Affairs. Certified SDVOSBs can compete for sole-source and set-aside contracts government-wide.

As the SBA moves forward to ensure more veteran entrepreneurs have access to economic opportunities, Guzman has granted a one-time, one-year extension to the current veteran small businesses verified by the Veterans Administration Center for Verification and Evaluation (CVE) as of Jan. 1, 2023.  

 To streamline the certification experience for veteran entrepreneurs, the SBA is implementing several improvements:

Giving veterans a central support platform for their small business certification needs.

Providing reciprocal certification for businesses with remaining eligibility in the women-owned small business (WOSB) and 8(a) programs.
Creating a more business-friendly approach by streamlining the application process and aligning ownership and control requirements across the VetCert, 8(a), and WOSB programs.

  To be eligible to apply for the Veteran Small Business Certification Program, an applicant must:

Be considered a small business, as defined by the size standard corresponding to any NAICS code listed in the business’s SAM profile.
Have no less than 51% of the business owned and controlled by one or more Veterans.

For certification as a SDVOSB, have no less than 51% of the business owned and controlled by one or more veterans rated as service-disabled by VA.
For those veterans who are permanently and totally disabled and unable to manage the daily business operations of their business, their business may still qualify if their spouse or appointed, permanent caregiver is assisting in that management.
Eligible new applicants certified by the SBA after Jan. 1, 2023, will receive the standard three-year certification period.

Firms verified by the VA Center for Verification and Evaluation (CVE) as of Jan. 1, 2023, are automatically granted certification by SBA for the remainder of the firm’s eligibility period.

Exton-based firm attains most SBA 504 loans in 2022

Attaining the most SBA 504 loans for small- to mid-sized businesses in the region, Exton-based Seedcopa has been ranked as the leading SBA 504 Lender in Eastern Pennsylvania by the U.S. Small Business Administration for a third straight year.

Seedcopa has offices in Exton and Wilmington.

SBA 504 loan structure typically requires a contribution from the business owner of just 10%. A third-party lender, like a bank or credit union, contributes 50% of the project cost. The SBA-backed portion of the loan is 40%.

Through its flagship SBA 504 loan program, Seedcopa helps businesses obtain government loans at below-market, fixed-interest rates for buying, building, or improving owner-occupied commercial property or to purchase machinery and equipment.

According to the SBA Eastern PA District Office’s year-end loan volume reports:

Seedcopa supported 46 small business owners in the past fiscal year with SBA 504 loans.
Loans spanned 10 counties: Berks, Bucks, Chester, Delaware, Franklin, Lancaster, Lehigh, Montgomery, Philadelphia, and York.

37% of businesses assisted were minority owned, women owned, or veteran owned.
The average SBA 504 loan was $896,217.
Total SBA 504 loan projects were $41,226,000.
Total projects were about $4 million higher than in the previous fiscal year.

The U.S. Small Business Administration announced that in December 2022, the SBA 504 Program reached more than $100 billion in all-time loan fundings. The total impact includes financing from third party lenders and has supported over $250 billion in local economic development across the nation.

Seedcopa helps businesses attain the financing they need through SBA 504 loan projects to purchase, construct, renovate or expand on new or existing land, as well as to purchase machinery and equipment. SBA 504 is the Small Business Administration’s fixed-rate loan program for small- to mid-sized business owners, and such loans often act as a complement to conventional, commercial loans that Seedcopa facilitates through local banks and credit unions.

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Tag: U.S. Small Business Administration

Biden-Harris Administration aims to modernize small business program

Biden-Harris Administration announces alliance to support small business exporters

Underserved small business owners to get boost from new USBA rules

Veterans, underserved populations to benefit from SBA, VetCert

Exton-based firm attains most SBA 504 loans in 2022