2010 Budget provides $113 million to support Small Business Development Centers
The 2010 budget provides funding to continue SBDC operations, and additional funds to help small businesses in America in a number of ways.
Click here for a summary of the funding impacts prepared by the US SBA.
Friday, December 18, 2009
Friday, December 11, 2009
Senators Landrieu & Snowe Introduce Bill to Create Jobs and Increase Small Business Lending
The US Senate Committee on Small Business and Entrepreneurship Chair Mary Landrieu, (D-La.), and Ranking Member Olympia J. Snowe, (R-Maine), introduced legislation to increase access to capital for small businesses and help create jobs. S. 2869, the "Small Business Job Creation and Access to Capital Act of 2009" would increase the small business loan limit to as high as $5.5 million and extend for a year the fee eliminations and increased guarantee set to expire under the Recovery Act.
Key Points;
Specifically, the "Small Business Job Creation and Access to Capital Act of 2009" would:
* Increase the loan limit on 7(a) loans from $2 million to $5 million;
* Increase the loan limit on 504 loans from $1.5 million to $5.5 million;
* Increase the loan limit on microloans from $35,000 to $50,000 and increase the maximum loan made to a microloan intermediary from $3.5 million to $5 million;
* Allow the 504 loan program to refinance short-term commercial real estate debt into, long-term, fixed rate loans;
* Extend the authorization to provide 90 percent guarantees on 7(a) loans and fee elimination for borrowers on 7(a) and 504 loans through December 31, 2010; and
* Direct the SBA to create a website where small businesses can identify lenders in their communities.
Read the full story here.
The US Senate Committee on Small Business and Entrepreneurship Chair Mary Landrieu, (D-La.), and Ranking Member Olympia J. Snowe, (R-Maine), introduced legislation to increase access to capital for small businesses and help create jobs. S. 2869, the "Small Business Job Creation and Access to Capital Act of 2009" would increase the small business loan limit to as high as $5.5 million and extend for a year the fee eliminations and increased guarantee set to expire under the Recovery Act.
Key Points;
Specifically, the "Small Business Job Creation and Access to Capital Act of 2009" would:
* Increase the loan limit on 7(a) loans from $2 million to $5 million;
* Increase the loan limit on 504 loans from $1.5 million to $5.5 million;
* Increase the loan limit on microloans from $35,000 to $50,000 and increase the maximum loan made to a microloan intermediary from $3.5 million to $5 million;
* Allow the 504 loan program to refinance short-term commercial real estate debt into, long-term, fixed rate loans;
* Extend the authorization to provide 90 percent guarantees on 7(a) loans and fee elimination for borrowers on 7(a) and 504 loans through December 31, 2010; and
* Direct the SBA to create a website where small businesses can identify lenders in their communities.
Read the full story here.
Thursday, December 10, 2009
Tax Preparation Help for Small Business Owners
Live Web Chat with AICPA Vice President of Taxation Thomas P. Ochsenschlager Wednesday, December 16, from 1:00 p.m. to 2:00 p.m., ET
WASHINGTON – The SBA’s Web Chat series picks up in December, as the 2009 tax filing season approaches. Small business owners can begin to prepare now with useful year-end tax tips and information. Business owners can learn more about tax savings tips and mistakes to avoid.
WHO: Thomas P. Ochsenschlager, Vice President of Taxation, American Institute of Certified Public Accountants (AICPA) will host the SBA’s December Web chat on “Tax Preparation for Small Business Owners.” Ochsenschlager will answer questions about the importance of year-end tax planning and preparation.
WHAT: SBA’s Web chat series, providing small business owners with an opportunity to discuss relevant business issues online with experts, industry leaders and successful entrepreneurs. Chat participants will have direct, real-time access to the Web chats via questions they submit online in advance and during the live session, with instant answers.
WHEN: December 16, 2009, 1 p.m. ET
Ochsenschlager will answer questions for one hour.
HOW: Web chat participants can join the Web chat on December 16 online at https://eweb1.sba.gov/livemeeting/Dec09. They also can post questions for Ochsenschlager in advance online at the same URL.
To review archives of past Web chats, visit online at http://www.sba.gov/tools/monthlywebchat/index.html
US SBA Advisory Number: MA09-14
Live Web Chat with AICPA Vice President of Taxation Thomas P. Ochsenschlager Wednesday, December 16, from 1:00 p.m. to 2:00 p.m., ET
WASHINGTON – The SBA’s Web Chat series picks up in December, as the 2009 tax filing season approaches. Small business owners can begin to prepare now with useful year-end tax tips and information. Business owners can learn more about tax savings tips and mistakes to avoid.
WHO: Thomas P. Ochsenschlager, Vice President of Taxation, American Institute of Certified Public Accountants (AICPA) will host the SBA’s December Web chat on “Tax Preparation for Small Business Owners.” Ochsenschlager will answer questions about the importance of year-end tax planning and preparation.
WHAT: SBA’s Web chat series, providing small business owners with an opportunity to discuss relevant business issues online with experts, industry leaders and successful entrepreneurs. Chat participants will have direct, real-time access to the Web chats via questions they submit online in advance and during the live session, with instant answers.
WHEN: December 16, 2009, 1 p.m. ET
Ochsenschlager will answer questions for one hour.
HOW: Web chat participants can join the Web chat on December 16 online at https://eweb1.sba.gov/livemeeting/Dec09. They also can post questions for Ochsenschlager in advance online at the same URL.
To review archives of past Web chats, visit online at http://www.sba.gov/tools/monthlywebchat/index.html
US SBA Advisory Number: MA09-14
Wednesday, December 9, 2009
US SBA ARC Loan Update
Here's a quick snapshot of the impact of the US SBA ARC Loans, listed by US SBA Regions and also a 'Fact Sheet' on the impact of the ARC loans. The MnSBDC is located in Region 5.
Click here for Fact Sheet
Click here for a Snapshot Graphic
Here's a quick snapshot of the impact of the US SBA ARC Loans, listed by US SBA Regions and also a 'Fact Sheet' on the impact of the ARC loans. The MnSBDC is located in Region 5.
Click here for Fact Sheet
Click here for a Snapshot Graphic
Monday, December 7, 2009
US SBA Economic Injury Disaster 11956 of ND with affected MN Counties Listed
Attached is a PDF file of the contiguous MN counties covered by the above designated disaster.
In MN it is the following counties;
Clay, Kittson, Marshall, Norman, Polk, Traverse, Wilkin
Click here for the file
Attached is a PDF file of the contiguous MN counties covered by the above designated disaster.
In MN it is the following counties;
Clay, Kittson, Marshall, Norman, Polk, Traverse, Wilkin
Click here for the file
Thursday, December 3, 2009
Bonding Assistance available for Disadvantaged Business Enterprise (DBE) for DOT projects
The bonding assistance provided by the DBE ARRA BAP will allow DBEs with traditionally less working capital than large transportation-related contractors to perform on transportation infrastructure projects receiving ARRA funding from any DOT Operating Administration, such as Federal Highway Administration (FHWA), Federal Transit Administration (FTA), Federal Aviation Administration (FAA), Federal Railroad Administration (FRA), and the Maritime Administration (MARAD).
The term DBE means a for-profit small business concern that is owned and controlled by one or more socially and economically disadvantaged individual(s), including women, and is set forth in Title 49 Code of Federal Regulation Part 26 (49 CFR 26).
Click here to view the PDF file with all the information.
Link to the complete program information.
The bonding assistance provided by the DBE ARRA BAP will allow DBEs with traditionally less working capital than large transportation-related contractors to perform on transportation infrastructure projects receiving ARRA funding from any DOT Operating Administration, such as Federal Highway Administration (FHWA), Federal Transit Administration (FTA), Federal Aviation Administration (FAA), Federal Railroad Administration (FRA), and the Maritime Administration (MARAD).
The term DBE means a for-profit small business concern that is owned and controlled by one or more socially and economically disadvantaged individual(s), including women, and is set forth in Title 49 Code of Federal Regulation Part 26 (49 CFR 26).
Click here to view the PDF file with all the information.
Link to the complete program information.
Wednesday, December 2, 2009
Credit still tight for small businesses
The link below to an article by the Dec 2009 edition of CFO magazine captures the continued woes of small business to get credit. An SBDC Consultant with the MA-SBDC is mentioned, and the CEO of the ASBDC, Charles "Tee" Rowe, is quoted along with the past Chair of the Atlanta SCORE chapter.
Click here for the article.
The link below to an article by the Dec 2009 edition of CFO magazine captures the continued woes of small business to get credit. An SBDC Consultant with the MA-SBDC is mentioned, and the CEO of the ASBDC, Charles "Tee" Rowe, is quoted along with the past Chair of the Atlanta SCORE chapter.
Click here for the article.
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