SBA: Celebrating 50 Years of Surety Bond Guarantees
The Office of Surety Guarantees will Host a Free, Virtual Conference September 24-25 for Small Businesses The U.S. Small Business Administration’s (SBA) Office of Surety Guarantees (OSG) will host a two-day virtual conference to commemorate 50 years of Surety Bond Guarantees (SBG). The conference will assist small businesses seeking surety bonds and discuss SBA’s role in the future of the surety bond industry. “For the last 50 years, the public-private partnership of…
SBA: West Virginia and Massachusetts Women-Owned Firms Take Top Honors in Federal Contracting
The U.S. Small Business Administration announced two women-owned firms will receive awards honoring their work in federal contracting. Action Facilities Management, Inc. (AFM), an 8(a)-certified commercial facilities management firm specializing in infrastructure and security support services from Morgantown, West Virginia; and Specialty Materials Inc. (SMI), a firm specializing in composite fiber and prepreg products that support the aerospace…
SBA: $3 Million in Grants to Organizations Supporting Small Business Innovation and R&D Commercialization Awarded
The U.S. Small Business Administration granted 24 awards up to $125,000 each for specialized training, mentoring, and technical assistance for R&D-focused small businesses under the Federal and State Technology (FAST) Partnership Program administered by the SBA’s Office of Innovation and Technology. FAST seeks to improve outcomes in the Small Business Innovation Research (SBIR) and Small Business Technology Transfer (STTR)…
FDIC: First-Ever FDIC Academic Challenge Launched
Teams from universities and colleges throughout the country will examine effects of community banks on local economic development The Federal Deposit Insurance Corporation (FDIC) today announced the launch of the agency’s first-ever Academic Challenge, a competition among teams of university and college students to address questions concerning the U.S. banking sector. The topic for this inaugural…
Federal Reserve: FAQs Updated to Clarify Board and Treasury’s Expectations Regarding Lending Underwriting for the Main Street Lending Program
The Federal Reserve Board on Friday updated its frequently asked questions (FAQs) to clarify the Board and Department of Treasury’s expectations regarding lender underwriting for the Main Street Lending Program. The revised FAQs emphasize that lender underwriting should look back to the borrower’s pre-pandemic condition and forward to their post-pandemic prospects. The FAQs also clarify…
EDA: $1.6 Million Invested to Establish Truck Driving Workforce Training Facility in Pensacola, FL
Today, U.S. Secretary of Commerce Wilbur Ross announced that the Department’s Economic Development Administration (EDA) is awarding a $1.6 million grant to the District Board of Trustees of Pensacola State College, Pensacola, Florida, to help construct a truck driving training facility that will provide up-to-date instruction, simulation, and on-the-road training for students. The EDA grant,…
EDA: $1.2 Million Invested to Establish Aeronautics Workforce Training Center in Minnesota Opportunity Zone
Today, U.S. Secretary of Commerce Wilbur Ross announced that the Department’s Economic Development Administration (EDA) is awarding a $1.2 million grant to Carlton County, Minnesota, to establish an aeronautics workforce training center to support the region’s emerging aviation industry. The EDA grant, to be located in a Tax Cuts and Jobs Act Opportunity Zone, will be matched…
EDA: $10.2 Million Invested to Establish High-Tech Business Incubator at the Innovation Park in Tallahassee, FL
Today, U.S. Secretary of Commerce Wilbur Ross announced that the Department’s Economic Development Administration (EDA) is awarding a $10.2 million grant to the Leon County Research and Development Authority, Tallahassee, Florida, to build a 40,000 square-foot, high-tech business incubator within the Innovation Park of Tallahassee to aid in the formation and expansion of technology businesses,…
EDA: $1.3 Million Invested for Wastewater Treatment Infrastructure in Wartburg, TN
Today, U.S. Secretary of Commerce Wilbur Ross announced that the Department’s Economic Development Administration (EDA) is awarding a $1.3 million grant to the city of Wartburg, Tennessee, to install a new wastewater collection system to provide service for the Brushy Mountain Development. The EDA grant, to be matched with $317,858 in local funds, is expected…
EDA: $988,400 Invested to Support Economic Diversification and Business Growth in Northwest New Mexico Opportunity Zone
Today, the U.S. Department of Commerce’s Economic Development Administration (EDA) is awarding a $988,400 grant to Northwest New Mexico Council of Governments (NWNMCOG), Gallup, New Mexico, to support the second phase of the Building Resilient Communities in Northwest New Mexico program, which is helping local governments and tribal entities to diversify their economic base in…