SBA “Meet The Lenders” Free Event Connects Local Entrepreneurs With Small Business Lenders, Meaningful Business Advice
U.S. Small Business Administration Mid-Atlantic Regional Administrator Natalia Olson-Urtecho addresses entrepreneurs, SBA lenders and resource partners during the 2014 “Meet The Lenders” event hosted by SCORE Montgomery County and the U.S. Small Business Administration.
PHILADELPHIA – The U.S. Small Business Administration presented the Southeastern Pennsylvania Lender-Borrower Matchmaking event in King of Prussia, Pa., Tuesday, April 22. The event’s “one-stop, speed dating” format sparks lending relationships across the region. SBA encouraged entrepreneurs at every stage of business development, from start-up to expanding business, to attend this free event.
The “Lender Match” event, hosted by SCORE Montgomery County and the U.S. Small Business Administration, allowed more than 180 entrepreneurs a series of 15-minute “pitch periods” with 38 lenders in one-on-one meetings. The lenders can schedule more detailed interviews with entrepreneurs whose proposal may be a match with their lending portfolio. Representatives from SBA’s Resource Partner network – SCORE, Women’s Business Centers, and Small Business Development Centers – were also available to help potential borrowers.
“At the Small Business Administration, we know what we do cannot be done without our partners: like our Small Business Development Corporations, Women’s Business Centers, SCORE offices and of course our lenders. Lending financial institutions and the businesses they support are where the rubber meets the road,” said SBA mid-Atlantic Regional Administrator Natalia Olson-Urtecho.
In addition to recognizing SBA’s lending and resource partners during her remarks,
Olson-Urtecho also advised the entrepreneurs and lenders to take advantage of the opportunities present at the event: “Whether you’re a veteran, a minority-owned business, or any entrepreneur with a dream, we’re here to help you find opportunities like today’s event to get you started on your journey.”
“With more than 180 potential borrowers, more than 10 SBA resource partners and 38 lenders, this was the largest event since we began holding it annually, five years ago,” said SBA Philadelphia District Director David Dickson. “This event is a very big deal and it is a direct result of the strong relationships the District enjoys with our lending partners, certified development companies and micro-lenders.”
“We are proud of our lender outreach and training opportunities and that SBA-guaranteed lending continues to be one of the foundations for financing to small businesses to start, grow and create new jobs for Americans,” Dickson added.
The U.S Small Business Administration announced in November that nationally, 2013 was its third highest year of SBA lending to date - surpassed only by SBA’s two record years of supporting more than $30 billion in FY 2011 and 2012. In FY 2013, SBA supported more than $29 billion in lending across the nation to America’s small businesses, giving small businesses critical access to the capital they need to start and grow their business.
U.S. Small Business Administration-backed lending in fiscal year 2013 also remained strong in eastern Pennsylvania, marking three consecutive years of very high numbers in the Philadelphia District and its second highest year for loan dollars. SBA lending in Eastern Pennsylvania for fiscal year 2013 saw 1,061 loans for more than $466 million in 7a lending and 71 loans for more than $53 million in 504 lending as well as more than $1.5 million in 207 micro-loans.
“One of SBA’s primary missions is to ensure that small business owners have access to the capital they need to start and grow their business. Last fiscal year in the Philadelphia District, SBA’s combined loan activity marked three consecutive years of very high numbers in the Philadelphia District and its second highest year ever for loan dollars,” Dickson said.
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