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Providing Standby Letters of Credit to Your Client is Easy with SBA
https://www.sba.gov/blog/providing-standby-letters-credit-your-client-easy-sba… exporter provides a standby letter of credit in an equal amount to the down payment. The letter of credit ensures the … up 100% cash collateral for the standby letter of credit amount or put a restriction on their domestic line of credit for the entire amount of the standby letter of credit. This standard bank … -
U.S. Economy Soars with 266,00 Jobs Added in November
https://www.sba.gov/article/2019/dec/10/us-economy-soars-26600-jobs-added-november… and almost 160 million people are working – the highest amount in our nation’s history,” said SBA New England … jobs for September and October, bringing the three-month average positive job growth gain statistic to 205,000, a ten-year high. Further, the average monthly job growth figure for 2019 jobs is a net … -
SBA Makes Changes to its Surety Bond Program
https://www.sba.gov/article/2017/sep/14/sba-makes-changes-its-surety-bond-program… guarantee will be 90 percent if the original contract amount is $100,000 or less, or if the bond is issued to a … other guarantees will be 80 percent. The eligible contract amount for the Quick Bond Application (Quick Bond) will … -
Review of the Small Business Administration’s State Trade and Export Promotion Grant Program
https://www.sba.gov/document/report-17-11-review-small-business-administrations-state-trade-export-promotion-grant-program… performance and financial reports that identified the amount spent for each designated export activity as stated in … -
Independent Auditors’ Report on SBA’s Fiscal Year 2021 Compliance with the Payment Integrity Information Act of 2019
https://www.sba.gov/document/report-22-12-independent-auditors-report-sbas-fiscal-year-2021-compliance-payment-integrity-information-act-2019… and unknown payment reduction target; the Disaster Direct Loan Program did not publish corrective action plans, … unknown payment reduction target, and the Disaster Direct Loan Program reported a gross improper payments and unknown … rate exceeding 10 percent, which is the higher than the amount allowed by law In addition, KPMG found the agency … -
The SBA issues a final rule on increases to monetary size standards for inflation
https://www.sba.gov/article/2018/02/27/sba-issues-final-rule-increases-monetary-size-standards-inflation… Jobs Act of 2010 (Jobs Act). Increased by the same amount the program based size standards, with the exception … new alternative size standard for the SBA’s 7(a) and 504 loan programs that was established under the Jobs Act. The … eligibility under the Agency’s Economic Injury Disaster Loan (EIDL) Program in connection with Hurricanes Katrina, … -
Filing Deadline Approaches for Rural Economic Disaster Assistance in Clinton County, New York
https://www.sba.gov/article/2024/08/02/filing-deadline-approaches-rural-economic-disaster-assistance-clinton-county-new-york… that the deadline to apply for an Economic Injury Disaster Loan (EIDL) is Sept. 3, 2024. Low-interest federal EIDLs … from the date of the initial disbursement. The SBA sets loan amounts and terms based on each applicant’s financial … -
Filing Deadline Approaches for Rural Economic Disaster Assistance in Clinton County, New York
https://www.sba.gov/article/2024/08/02/filing-deadline-approaches-rural-economic-disaster-assistance-clinton-county-new-york-0… that the deadline to apply for an Economic Injury Disaster Loan (EIDL) is Sept. 3, 2024. Low-interest federal EIDLs … from the date of the initial disbursement. The SBA sets loan amounts and terms based on each applicant’s financial … -
SBA’s Controls to Address Financial Statements Audit Disclaimers and Material Weaknesses
https://www.sba.gov/document/report-25-25-sbas-controls-address-financial-statements-audit-disclaimers-material-weaknesses… were primarily related to administering an unprecedented amount of disaster assistance aid and guaranteed loan funds to help eligible small business owners and … -
Contracting assistance programs
https://www.sba.gov/federal-contracting/contracting-assistance-programs -
SBA’s 2022 New Hampshire Financial Services Champion Denise Roy-Palmer of Wentworth Economic Development Corporation (WEDCO)
https://www.sba.gov/success-story/sbas-2022-new-hampshire-financial-services-champion-denise-roy-palmer-wentworth… nearly 800 jobs. Denise’s value extends beyond overseeing loan packages, she is a true advocate for the small … -
Biden-Harris Small Business Boom Continues with Historic 18 Million New Business Applications Filed
https://www.sba.gov/article/2024/06/12/biden-harris-small-business-boom-continues-historic-18-million-new-business-applications-filed… have been 18.1 million new business applications with an average 443,000 filed each month – a rate over 90% faster … quarter century. For more information about the SBA’s loan programs, financial assistance, and other services, … -
What are business plan events?
https://www.sba.gov/blog/what-are-business-plan-events… require the business plan document as part of a business loan or other commercial credit. Most SBA loan programs, which guarantee bank loans made by local small … -
Landmark Theater Navigates COVID-19's Impact, Triumphantly Announces 2021-2022 Season
https://www.sba.gov/success-story/landmark-theater-navigates-covid-19s-impact-triumphantly-announces-2021-2022-season… Paycheck Protection, COVID Economic Injury Disaster Loan, and Shuttered Venue Operators Grant Programs. Since its … the balance, The Grand turned to SBA’s Paycheck Protection loan program to keep its staff on the payroll and meet … pandemic. Indeed, the now-concluded Paycheck Protection loan program’s partially forgivable, low-interest funding … -
THURSDAY: SBA Administrator to Visit Baltimore, Discuss Economic Assistance Available for Businesses Affected by Bridge Collapse
https://www.sba.gov/article/2024/04/03/thursday-sba-administrator-visit-baltimore-discuss-economic-assistance-available-businesses-affected… 1 to assist business owners in completing their disaster loan applications, accept documents for existing applications, and provide status on loan applications. Thursday, April 4 Tour of Business … -
SBA Business Recovery Centers Close in Massachusetts for Independence Day; Bristol Business Recovery Center Closed Permanently After July 5
https://www.sba.gov/article/2024/07/02/sba-business-recovery-centers-close-massachusetts-independence-day-bristol-business-recovery-center… Centers will assist applicants complete their disaster loan application, accept documents for existing applications, … apply for FEMA grants and the SBA low-interest disaster loan assistance to fully recover. FEMA grants are intended … not paid by insurance or other sources. The SBA disaster loan program is designed for your long-term recovery, to make … -
SBA Business Recovery Centers Close in Observance of Juneteenth, Update Hours of Operation
https://www.sba.gov/article/2024/06/13/sba-business-recovery-centers-close-observance-juneteenth-update-hours-operation… Centers will assist applicants complete their disaster loan application, accept documents for existing applications, … apply for FEMA grants and the SBA low-interest disaster loan assistance to fully recover. FEMA grants are intended … not paid by insurance or other sources. The SBA disaster loan program is designed for your long-term recovery, to make … -
SBA Microlender Helps the Clay Coyote Reinvent Itself
https://www.sba.gov/success-story/sba-microlender-helps-clay-coyote-reinvent-itself… can cook with on direct heat. Owner Morgan Baum has been a loan client of the Southwest Initiative Foundation, an SBA … She shared that she gets so much from them more than a loan, including help from financial experts, filing taxes and … Paycheck Protection Program, the Economic Injury Disaster Loan and Advance, and other federal funding provided by the … -
Minneapolis Jeweler Got Its Start and Has Grown with Help from the SBA
https://www.sba.gov/success-story/minneapolis-jeweler-got-its-start-and-has-grown-help-sba… to WomenVenture, an SBA microlender. Working with a loan officer who saw their vision and said, “I’m going to … quickly created a written business plan to get a start-up loan. In addition to start up help, New Gild has benefited … Protection Program and the Economic Injury Disaster Loan Advance. Those programs allowed them to weather the …