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SBA loan programs to be explained May 21

A small business financing workshop will be held from 10 a.m. to noon on Thursday, May 21, in the offices of the Middle Peninsula Business Development Partnership at 125 Bowden Street in Saluda.

Representatives from the Small Business Administration, Rappahannock Region Small Business Development Center and Middle Peninsula Business Development Partnership will present information on SBA loan programs, counseling services and available technical assistance. Loan applications will be available for SBA Community Express loans. 

The workshop also will provide entrepreneurs and small business owners with up-to-date information on enhancements to SBA’s programs as a result of the 2009 Recovery Act. The Recovery Act makes SBA part of the credit access solution, providing the agency with specific tools to make it easier and less expensive for small businesses to get loans. 

To register, call Peggy FaJohn of SBA at (804) 771-2400, ext. 126, or Candie Newman of the Middle Peninsula Business Development Partnership at 758-4917. There is no cost to participate, but pre-registration is recommended.

Under the SBA’s Community Express Loan Program, a loan guaranty is offered to lenders who provide small business loans up to a maximum $250,000. However, lenders have historically used the program to make small business loans from $5,000 to $50,000.  A Community Express loan offers an avenue to capital access for small and home-based businesses. 

For more information about the SBA’s programs and services, visit sba.gov/va and look in the “Financing” section.

posted 05.17.2009

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