SBA 504 Lending and Small Business NewsNovember 23, 2016
There’s a lot to take in after the recent election, but small business owners are going to be some of the most impacted by Trump’s agenda. The obvious impact is on small businesses that export overseas, and these firms are facing a lot of anxiety over their potential revenue in the coming months. Other areas small businesses will be affected include on health care, tax reform, the lack of potential employees caused by a lesser focus on immigration, and a decrease in the overall amount of market regulations.
The SBA has recently seen a jump in loan numbers to Iowa small businesses and entrepreneurs in the fiscal year that ended September 30th. According to Dave Lentell, the SBA spokesman at the agency’s Iowa district office, “The SBA approved 484 guaranteed loans in Iowa totaling $197.3 million.” With a relatively small population like Iowa’s, it’s difficult for the state numbers to hit new peaks year to year, but Lentell attributes the rise to increased education efforts to inform small businesses about SBA programs and services. The 484 loans approved during the fiscal year were able to create 2500 jobs in Iowa as well as retain 3400 jobs.
The SBA Office of Veterans Business Development recently announced a funding opportunity for women veteran entrepreneurship training. The SBA expects to make up to six awards as part of this program with a minimum award of $25,000, with successful applicants being organizations with a demonstrated history of providing entrepreneurial training to women veterans, women service members, or women spouses of service members or veterans. As of 2012, women veterans owned 383,302 businesses, generating $17.9 billion in sales.
8+1 (That’s 9) Things You Need To Know
- SBA sets new lending records for both the 7(a) and 504 program
- These mistakes are hurting your small business communications
- A Q&A on small business success with Shark Tank’s Robert Herjavec
- SBA joint venture program allows small firm to get into the big leagues
- Trump, like small business owners, shows strength of the underdog
- A look at SBA loan activity in Central Jersey
- The SBA’s work in helping bolster the small business economy in Massachusetts
- Portland SBA sets another loan-backing record
- SBA reports record year for lending in Houston