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SBA Microlender Expands Service to Suburban Counties

Release Date: 
Thursday, July 28, 2016
Release Number: 
20160728-001
Contact: 
Sonia Smith | 610-382-3085 | sonia.smith@sba.gov

PHILADELPHIA – The U.S. Small Business Administration certified FINANTA to expand its microbusiness technical assistance and loan making to Chester, Montgomery, Delaware, and Berks Counties in Pennsylvania.  FINANTA currently provides microlender services to entrepreneurs in Philadelphia, and in Bucks County through their partnership with the Women’s Business Forum.  Finanta collaborates with ASSETS Lancaster in Lancaster, and LAEDA in Camden, New Jersey.    

“FINANTA has disbursed over $4 million in business microloans to individuals and affinity groups,” said Luis E. Mora Rechnitz, president of Finanta, “with the SBA’s microloan program we are excited to deliver financial products and services, including business loans, coaching, and technical assistance to the suburban counties surrounding Philadelphia.”

“Creating access to capital for Eastern Pennsylvania’s small businesses is a very important role for the U.S. Small Business Administration,” stated Tony Leta, director of SBA’s Eastern Pennsylvania District. “In SBA’s efforts to help small businesses across the nation, SBA certified microlenders such as FINANTA play an important role as partners to provide capital with the provision of technical assistance and business consultation services to emerging entrepreneurs.”

About FINANTA

FINANTA is a mission-driven non-profit lending institution and a community development financial institution (CDFI) facilitating access to capital and technical assistance in the Philadelphia Region. For more information about FINANTA, please visit www.finanta.org.

About the U.S. Small Business Administration 

The U.S. Small Business Administration (SBA) was created in 1953 and since January 13, 2012 has served as a Cabinet-level agency of the federal government to aid, counsel, assist and protect the interests of small business concerns, to preserve free competitive enterprise and to maintain and strengthen the overall economy of our nation.  The SBA helps Americans start, build and grow businesses.  Through an extensive network of field offices and partnerships with public and private organizations, the SBA delivers its services to people throughout the United States, Puerto Rico, the U.S. Virgin Islands and Guam. For more information about the SBA and the Eastern Pennsylvania District Office, visit www.sba.gov/pa.

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