SBA 504 Lending and Small Business News: March 18, 2016

March 17, 2016

The SBA announced this year’s Small Business Person of the Year winners from across the country. Winners were picked from all 50 states, Washington D.C. and U.S. territories and were invited to attend ceremonies in Washington, D.C in May where they will be awarded their individual awards along with recognition of the runners-up and the naming of the 2016 National Small Business Person of the Year. “These small business owners represent the best of the best and showcase daily their entrepreneurial spirit and what it takes to be successful in today’s evolving and competitive business environment,” said SBA Administrator Maria Contreras-Sweet. Click here for the full list of winner.

A new report shows that the self-storage sector did phenomenal business in 2015. Even with increased development, experts say that the market has room to grow. Marc A. Boorstein, a principal at, MJ Partners, the company that produced the report, said that if the economy continues to chug along self-storage is an “excellent play.” Boorstein also said the sector has been resistant to economic downturns giving owners and investors the “best of both worlds.”

SBA lending in the Greater Philadelphia Metro area is up 24% in total unit volume during the first months of the fiscal year. SBA 504 loans alone saw 21 loans totaling more than $18.1MM in eastern Pennsylvania, up from 15 loans ($11.2MM) during the same time frame of the previous fiscal year. “Capital is the lifeblood of small businesses and entrepreneurs wanting to start or expand a business,” said Tony Leta, Director of SBA’s Eastern Pennsylvania District. “In SBA’s efforts to help small businesses across the nation, lenders play an important role as partners.”

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

  1. SBA chief visits Napa Valley small business
  2. First Real Estate Sale with Bitcoin Occurs in Denmark
  3. Uncertainty around FOMC decisions on interest rates
  4. First LGBT owners named SBA Small Business Persons of the Year in CA
  5. What not to do when buying a franchise
  6. Industrial demand heats up in South Bronx
  7. Tightening job market sparks hope wages will grow
  8. America’s abandoned factories in hot demand
  9. Another 1MM homes regained positive equity in 2015