SBA: National Small Business Week to Kick-Off September 22-24
Today, Jovita Carranza, Administrator of the U.S. Small Business Administration, announced the kick-off for National Small Business Week. The virtual event, rescheduled from May due to the coronavirus pandemic, will be held September 22-24. National Small Business Week honors the nation’s small businesses, many of which are veteran, women and minority-owned, for their achievements and dedication to…
SBA: Veterans Small Business Advisory Committee to Host Virtual Public Meetings on September 2nd and 3rd
The U.S. Small Business Administration’s Interagency Task Force on Veterans Small Business Development (IATF) and Advisory Committee on Veterans Business Affairs (ACVBA) will hold virtual public meetings on Sept. 2 and 3 respectively via Microsoft Teams. The U.S. Small Business Administration’s Interagency Task Force on Veterans Small Business Development (IATF) and Advisory Committee on Veterans Business…
SBA: New Reduced 504 Loan Debenture Rates Announced
The U.S. Small Business Administration announced the updated interest rates for the 504 Loan Program offered by Certified Development Companies (CDC). Small businesses can now apply for the lowest interest rates since July 2018 as the program is now allowing 20 and 25-year interest rates at 2.214% and 2.269%, respectively. “These are very encouraging terms and very…
SBA: Small Businesses Received Historic $132.9 Billion in Federal Contracts in New FY19 Procurement Scorecard
Every year, the federal government spends over $400 billion on goods and services, making it the largest purchaser of goods and services in the world. Today, the U.S. Small Business Administration released the annual Fiscal Year 2019 Small Business Federal Procurement Scorecard, which tracks and assesses each agency’s yearly and individually negotiated small business prime and…
SBA: Small Business Contracting Goals Exceed $132.9 Billion to Small Businesses, Breaking Records
Women-Owned Contracting Goal Met for the Second Time in Scorecard History; Eight Federal Agencies Receive A+ Rating on FY2019 Small Business Federal Procurement Scorecard Today, the U.S. Small Business Administration announced that the federal government exceeded its small business federal contracting goal, awarding 26.50 percent or $132.9 billion in federal contract dollars to small businesses, over $12…
SBA: Historic Results and Gains Announced for FY2019 Small Business Federal Procurement Scorecard
On Wednesday, Aug. 12, at 2 p.m. EDT, Dr. Francis Spampinato, Associate Administrator for the U.S. Small Business Administration’s Office of Government Contracting and Business Development will host a media conference call to discuss the historic results and positive gains in the Fiscal Year 2019 Small Business Federal Procurement Scorecard . The annual scorecard is an assessment tool that…
SBA: Virtual Military Spouse Entrepreneur Summit to be Held Wednesday, August 19th
The U.S. Small Business Administration will host a virtual “Military Spouse Entrepreneur Summit” in collaboration with Second Lady of the United States Karen Pence and the U.S. Chamber of Commerce Foundation’s Hiring Our Heroes on Wednesday, Aug. 19 from 1-3:30 p.m., EDT. This free event will connect military spouses with resources and information available to help them start or…
SBA: Readout from Roundtable Discussion with Minority Depository Institutions
On July 30, 2020, U.S. Small Business Administration Administrator Jovita Carranza, Deputy Secretary of the Treasury Justin Muzinich, U.S. and other senior Treasury and SBA officials participated in a roundtable discussion with National Bankers Association Chairman Kenneth Kelly and executives from several minority depository institutions (MDIs). The discussion focused on the MDIs’ experiences as lenders…
SBA: New Community Advantage Recovery Loans Proposed for COVID Relief
On July 15, 2020, SBA published a request for information and a notice on the establishment of a new, temporary community advantage (CA) loan in response to the coronavirus pandemic. The new loans, titled “Community Advantage Recovery Loans” are designed for eligible CA Lenders to provide technical and financial assistance to assist small businesses in…
Federal Reserve: Rule Change Extended to Bolster Effectivness of the SBA’s Paycheck Protection Program
The Federal Reserve Board on Wednesday announced an extension of a rule change to bolster the effectiveness of the Small Business Administration’s (SBA) Paycheck Protection Program (PPP). Like the earlier rule, the extension will temporarily modify the Board’s rules so that certain bank directors and shareholders can apply to their banks for PPP loans for…