SBA’s 7(a) Loan Authorization Ceiling Raised to $23.5 Billion, SBA Again Able to Guarantee Loans Effective July 28
SBA Administrator Maria Contreras-Sweet issued the following statement on approval of SBA’s 7(a) Loan Program:
“Thank you to the House of Representatives for the step it took on Monday to raise SBA’s lending authorization ceiling to $23.5 billion for our 7(a) loan guaranty program. Combined with the Senate’s action last Thursday, the SBA’s flagship lending program is back on track.
“We have seen record levels of lending this year, showing us that America’s small businesses are thriving and yearning to grow. We have streamlined our processes, reduced fees, and bolstered our outreach to our lending partners.
“On behalf of the Small Business Administration, and the thousands of small and growing businesses, innovators, and entrepreneurs we serve across the country, thank you to the leadership in both the House and Senate for the steps they have taken this past week.
“As we go forward, we will continue to work with both chambers to ensure that the SBA continues to empower American small businesses as they grow and create jobs to strengthen the nation’s economy.”
Three Reasons to Attend BizFair 2015
- It’s free. That’s right. Just show up and learn.
- There are more than 35 different workshops to choose from in a single day, with topics including: starting a business, healthcare, taxes, hiring, social media, exporting and many more.
- It’s designed with all levels of entrepreneurs in mind; from startups to seasoned businesses. Walk away with more knowledge to help you start or positively grow your small business.
BizFair 2015 will be Saturday, September 26, 2015 at Renton Technical College from 8 a.m. until 3:30 p.m.
The seminars are one hour in length and no registration is required as all seminars are on a first come, first served basis.
For more information, visit www.bizfair.org.
Five Reasons a Business Revolving Line of Credit May Benefit You
Having access to a source of funding is an essential part of success in business, but not all forms of financing are created equal.
Unlike other kinds of lending, a revolving business credit line offers a number of advantages over other types of funding such as:
1. Flexible Payment Terms – a revolving credit line offers flexible repayment terms. Unlike a term loan, if a business has a slow month it can pay the minimum amount due.
2. Personal and Business Separation – a revolving business credit line enables you to streamline and track your business expenses since your credit line is dedicated solely for business.
3. Access to Cash on Demand – unlike a traditional loan, a revolving credit line enables you to source funding before your business actually needs it.
4. Builds Business Credit – using a business revolving line of credit allows you to build a positive payment history that appears on your company’s business credit report.
5. Flexibility of Usage – since the credit line is revolving a business can use the cash for multiple purchases compared to a loan that can only be used for one purpose.
Read more in the full article on the SBA Blogs page.
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Aug. 4 – Call in to SBA Live
Explore the world of entrepreneurial education during this month’s SBA Live. Click here for call-in instructions.
Aug. 6 – How to Get Money
Learn the facts about financing a new or existing small business from our local expert in Spokane. Click here to register.
Aug. 12 – Launch Lab: Franchising
Attend this seminar in Mountlake Terrace to learn the basics of franchising and if it’s the right option for you to own your own business. Click here to register.
Aug. 12 – Free Biz Tools
Learn about the free resources to help you start or grow your business. Time for Q&A. Register now.
Workshops & Webinars
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