small business administration

NYSBDC Exporter Of The Year Susan Jablon, Susan Jablon Mosaics

As part of our commitment to the growth of small businesses nationwide, U.S. Bank is a leading participant in the lending programs of the U.S. Small Business Administration (SBA). Lender participation is essential to growth in the quantity of loans approved and small businesses assisted. If a company has been in business for at least two years, is profitable and has cash flow to support loan payments, it’s likely a good candidate for an SBA loan,” SmartBiz CEO Evan Singer says.

H.R. 2936, the Small Business Administration Express Loan Extension Act of 2011, would extend a one-year increase in the maximum loan amount for the SBAExpress program from $350,000 to $1 million for an additional year. The Small Business Jobs Act increased the maximum amount of SBA microloans from $35,000 to $50,000.small business administration

The SBA is also streamlining the certification process and data for federal contracting and continues to aggressively root out fraud, waste and abuse in small business contracting to ensure that contracting dollars go to deserving small businesses. SBA’s unique contracting programs provide a path to business growth for these populations.small business administration

The maximum allowable rate for both types of loans is 2.75 percent over prime for loans of seven years and longer, and 2.25 percent over the prime rate for loans up to seven years. Loans for more than $50,000 have 1{35cb9ed3cc561a3021f22808fce88883a22a8206f111a119500a18949f91e1b9} lower maximum interest rates than loans between $25,000 and $49,999 when taken for similar terms.

President-elect Donald Trump picked Linda McMahon, former CEO of World Wrestling Entertainment, to serve as the administrator of the Small Business Administration, his transition announced Wednesday. When a small business gets a government contract, the small business is often able to quickly create jobs and spur economic growth.small business administration