SBA 504 Lending and Small Business News: April 27, 2016

April 27, 2016

“The ones who are crazy enough to think they can change the world, are the ones that do.” – Anonymous.

An SBA administrator highlighted a 2016 Wisconsin Small Business Person of the Year who used SBA 504 financing multiple times to expand his business. Marianne Markowitz, regional administrator of the SBA whose area includes Wisconsin, Minnesota, Illinois, Indiana, Michigan and Ohio wrote about the 504 loan program in the La Crosse Tribune. Markowitz said that Mark Matthiae, owner of Crystal Finishing Systems, used 504 financing several times, to diversify operations, grow his facilities and increase employment. “The funding has enabled the company to leverage its development from a paint job shop to a full-service manufacturing, warehousing and delivery firm with seven divisions in three locations,” said Markowitz.

Two Florida certified development companies have merged. According to a report in Tampa Bay Business Journal, Tampa Bay Economic Development Corp. and GulfCoast Business Finance Inc. have joined forces to become Sunshine State Economic Development Corp., or SEDCO. “With 380 loans to small businesses, SEDCO is the third largest SBA certified development corporation in Florida,” the news site reported.

SBA Administrator Maria Contreras-Sweet announced the Small Business Week schedule starting in Washington DC. Contreras-Sweet will be the keynote speaker to kick off the first leg of the events, which will include award ceremonies and a panel discussion on cyber security in the nation’s capitol on May 1-2. Small businesses, industry leaders and other award winners from around the country will converge on DC to receive awards in 17 different categories ranging from exporting, outreach, contracting, lending, disaster recovery to manufacturing and research and development.

8+1 (That’s 9) Things You Need To Know

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  3. What Small Business Lenders Learn from the Sport Chalet Bankruptcy
  4. NM entrepreneurs to be honored at Small Business Week luncheon
  5. Small business myths loom large
  6. The independent workforce growing part of small business economy
  7. M&T Bank CEO talks small business financing
  8. Why did Tallahassee host a dinner for 400 residents?
  9. As minimum wage heads to $15, small businesses adapt