SBA 504 Lending and Small Business News: July 26, 2016

July 26, 2016

Hotel companies are learning to combat Airbnb by adapting to consumer preferences. Bjorn Hanson, clinical professor of the Jonathon M. Tisch Center for Hospitality and Tourism at NYU, tells New York Times, “There are things that are happening at traditional lodging companies that are accelerating related to Airbnb, and that is less uniformity.” As such, hotels have learned to be different – introducing local partnerships and suppliers, smaller rooms in favor of generous social spaces such as lobby bars and courtyards, and even keyless entry in favor of smartphone access. Hotel owners hope these changes will attract millennials and business travelers alike.

The U.S SBA recently released its Small Business Innovation Research (SBIR) online tutorials in order to help small businesses navigate the SBIR program. Mark Walsh, the SBA’s Associate Administrator for Investment and Innovation, said in a press release, “We are excited to introduce these tutorials. We know there are many small businesses in rural communities as well as young entrepreneurs that are unaware of this amazing program.” The tutorials consist of 52 modules within 10 courses, and provide information to help new small businesses to access part of the $2.5 billion distributed every year to support R&D in small, innovative firms across the nation by the SBA.

Liberty SBF recently provided expedited SBA-backed financing for a $4.05 million acquisition of a Quality Inn and Suites in Pueblo, Colorado. California-based hotel owner Siena Investment Holdings, whom purchased the hotel, plans to retain the hotel’s management staff while also creating new job opportunities for the Pueblo area. The new owners, John and Shefali Miller, plan to be involved in running the hotel on a day-to-day basis.

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

  1. Majority of Arizona legislators score big on small business
  2. SBA lending in upstate New York rises 16% in FY 2016 compared to a year ago
  3. The ebbs and flows of franchise brands
  4. Staten Island kicking other borough’s butts when it comes to hotels
  5. Coleman’s movers and shakes for the week
  6. How to figure out if you’re founding a company or a not-for-profit
  7. Should small businesses be entitled to government subsidies?
  8. Reputation management and public relations: A comprehensive guide for self-storage operators
  9. Boston banks try anew to push small business loans