By Sean Greene, Associate Administrator for Investment and Special Advisor for Innovation Yesterday, the President announced how we’re reducing the burden of student loan debt for college graduates and their families. As a former entrepreneur, I know just how important debt relief is in helping finance extra months of operating runway that a new businessneeds to get up and running. It’s particularly important that we give as much “breathing room” as possible to entrepreneurs who have both a degree and a great...
Every year since 1963, SBA has hosted the National Small Business Week Conference to recognize the special impact made by outstanding entrepreneurs and small business owners. We are now seeking nominations from the public for the 2012 National Small Business Week awards. Once you are nominated for an award, the next step is to put together a nomination package. Here are 7 tips to preparing a winning Small Business Week nomination package: 1. Read and Follow Nomination Guidelines Carefully...
When a friend or family member asks what you do to help small businesses, what do you say? Consider every aspect of opportunity that’s available within our guidelines/SOP to help struggling small businesses that need funds for working capital. What’s your favorite thing about what the SBA does for small businesses? SBA can help small businesses with their future business plans when disasters happen in granting funds for repairs and rebuilding their dreams. Is there a particular small business “success story...
Nominate an Outstanding Small Business in Your Neighborhood for SBA’s Highest Awards Every year, we at the SBA honor America’s small business owners by presenting National Small Business Week in Washington, DC. During National Small Business Week, we recognize outstanding entrepreneurs and small business owners and the contributions they’re making to create jobs, inspire innovation and strengthen our economy. Earlier this year, we hosted one of our most successful Small Business Weeks. Click here to see this year...
Each October, we celebrate one of the fastest-growing segments of America’s economy: woman-owned businesses. As a woman who has started a business and owned several businesses over the years, this is especially important to me. Today, there are about 8 million woman-owned businesses in the U.S. From 1997 to 2007, the number ofthese firmsgrew about twice as fast as that of men. Find more facts about woman-owned firms here. We’re building on the momentum of these job creators in a number of ways. For example, this...
The Voting Period for SBA’s Export Video Contest is NOW OPEN In August, we announced the Export Video Contest, asking small businesses to submit their exporting stories through YouTube videos for a chance to win cash prizes and a monetary award towards a future export event. The contest, presented in partnership with Visa and the President’s National Export Initiative, recognizes successful small exporters and helps get the word out about federal tools available to help U.S. exporters expand into new markets, grow their companies...
Small businesses in emerging industries – like clean energy – have cutting-edge ideas that are strengthening our country and changing the world. Today, we are helping them continue to do just that in two major ways. First, unlike larger firms, many small firms do not have the staff or time to search for all of the federal opportunities that can help them grow and create jobs. We are pleased to announce that today, they have a new tool with green.sba.gov, where they can find all federal opportunities in a single location. How...
America's small businesses need every possible opportunity to out-compete and out-innovate the rest of the world. Last night, Congress opened more doors for our small businesses by approving trade agreements that will reduce and eliminate many barriers to some of the fastest-growing international markets. These agreements cut tariffs and red tape for our small exporters, helping increase U.S. exports by billions of dollars each year and supporting tens of thousands of new, good-paying jobs here at home.
This week I had the pleasure of visiting Circle City Rebar in my hometown of Indianapolis, Indiana. Their story will be familiar to small business owners across the country. Owner Frank Davis started the business after being laid off from the large corporation he worked at for years. He used an SBA loan in 2005 to start the business. Then he used another SBA loan to move Circle City Rebar to a bigger facility across town. Now Frank is looking at a 3rd loan to purchase some new equipment and hire two...
I’m pleased to announce that the SBA hit an all-time record in small business lending this fiscal year: over $30 billion in lending supported to over 60,000 small businesses. Let’s take a step back and see how we got here. In October 2008, lending markets froze. Banks simply weren’t giving small business loans. Then, President Obama signed the Recovery Act. We were able to raise the guarantee on SBA loans to 90%, and reduce or eliminate the fees. It worked. SBA lending roared back. We...
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