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Bo Davis was a student at George Washington University when he developed the technology behind Blackboard, an online course manager now used by millions of college students. Three SBA-backed loans later, Davis is now expanding another successful business venture, Wasabi sushi restaurants – and he’s still working with SBA to help him create jobs and expand. When Davis started his company, he didn’t have the deep pockets that competitors had; but SBA was there to help put him on a level playing field with...
Today marks the one-year anniversary of Startup America, the initiative launched by the White House to celebrate, inspire, and accelerate high-growth entrepreneurship across America. Here at SBA, we’ve spent the year helping entrepreneurs grow their businesses and create jobs across the country – creating blueprint for an economy built to last. From launching mentoring programs to a record year of helping entrepreneurs and small business owners access capital through loan programs and Small Business Investment Company...
Last night I had the honor of attending President Obama’s State of the Union Address as a member of his cabinet. In the speech, the President laid out his vision for an economy that’s built to last. It’s an economy based on American manufacturing, American energy, skills for American workers, and a renewal of American values. I had the chance see one of those pillars in action today. Today I visited Always Bagels in Lebanon, Penn. Always Bagels is exactly the kind of manufacturing facility President Obama...
Recently, the SBA asked how we could use apps to put customized tools directly in the hands of entrepreneurs and small business owners. We reached out to entrepreneurs themselves to help find the answers through a nationwide competition with $20,000 in total prizes. Here are the winning apps: First Place: SBA Gems– Find loans, grants, permits and more. Developer - Somesh Kumar, Fremont, California Second Place: CapitaList– Find federal databases for licenses, awards, proposals and websites. Developer –...
When a friend or family member asks what you do to help small businesses, what do you say? I tell them I’m responsible for the information technology and computer systems that support the SBA Standard 7(a) Loan Guaranty Processing Center goals for a multi-billion dollar national loan program. As an IT Specialist, I enjoy applying technology to automate our processes which provide the tools for our staff to effectively perform their jobs. What’s your favorite thing about what the SBA does for small businesses...
Today was an important day for America's small businesses. President Obama asked Congress for the authority to reorganize and modernize government and he elevated my position as the SBA Administrator to Cabinet-level status. These actions are a reflection of the importance he places on small business, economic growth, and job creation. He asked Congress for the authority that Presidents from Hoover to Reagan have had to reorganize and modernize the federal government. This authority lapsed in 1984, but, today, the...
When a friend or family member asks what you do to help small businesses, what do you say? Typically, as a Lender Relations Specialist, my job is to keep SBA in the minds of local lenders and to ensure they are familiar with our small business lending programs and how to use them. The more comfortable I can make a lender in utilizing the SBA loan products, the more apt he is to do so. If a lender at least thinks SBA when presented with a loan proposal, that’s a plus for the small business owner that might not be financed...
The U.S. Small Business Administration yesterday launched a new online tool that helps Native American entrepreneurs prepare for business ownership. The Native American Small Business Primer: Strategies for Success is a free online business course developed for Native American entrepreneurs that gives an overview of basic business principles and of the SBA’s programs and services that help business owners get started. The new primer is an important tool for American Indians, Alaska Native and Native Hawaiian business owners that...
Last week, President Obama signed a bill reauthorizing the Small Business Innovation Research (SBIR) and Small Business Technology Transfer (STTR) programs for another six years. This long-term reauthorization is good news for the innovative small businesses that these programs support. SBIR and STTR invest about $2.5 billion a year in America’s most promising small research and development companies. Through SBIR and STTR, federal agencies with large R&D budgets provide competitive awards to help small businesses...
Yesterday, I spoke with Zalmi Duchman, the founder and owner of The Fresh Diet in Florida. His business cooks and delivers freshly prepared, healthy meals directly to customer doors each day. He talked about how, if Congress doesn’t act, a tax increase will hurt both his hardworking employees and small businesses, like his, that rely on consumers to have money to buy their goods and services. He said that when his employees open their paycheck and see that it got lower, they’ll turn to him and ask why. That...
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by nicoj, Community Moderator on Wednesday, February 1, 2012 - 20:32