SBA Loans

The Small Business Administration has given out more than $1 million in loans to Alabama residents affected by February’s severe storms and has loans of up to $1.5 million available for businesses of all sizes and nonprofits to make repairs.

The agency has approved 17 disaster loans for homeowners and has loans of up to $200,000 still available for victims who apply by the April 21 deadline, said Frank Skaggs, Director of SBA’s Field Operations Center East.

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The Small Business Administration (SBA) is an independent agency of the Federal Government, established by Congress to advise and help the Nation’s small businesses.

Even if you have been turned down by your local bank, a SBA lender may be able to help you. Many SBA lenders will give special consideration to minority and/or women owned businesses. You will still need to meet the credit criteria. These are loans not grants.

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By Robert Barron, Staff Writer
After a year and a half of design and construction, Advance Food’s new production plant is in operation and already expanding.

Brian Hayden of Advance Food said the plant started with three production lines in the first shift and is operating today. They currently are hiring for the second shift and were expecting to have begun running one line of the second shift by the end of February.

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Are you starting a small business or have you been in business less than 2 years? As you may know, finding equipment leasing for a small business start up can be difficult.

Not anymore.

Our equipment leasing program for startup / new businesses is designed with you in mind! We don’t require any time in business so you can be a day 1 start up and we can still get your business equipment leasing!

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SBA-backed loans usually see an uptick when the economy weakens. Not this time

Like the economy, SBA loan activity has sagged. The number of loans made in Massachusetts through the U.S. Small Business Administration’s flagship 7(a) loan program is down more than 30 percent so far this fiscal year from the same period last year, while the dollar volume is down more than 10 percent.

According to the SBA, there were 593 loans totaling $74.3 million made between Oct. 1 and Feb. 29. The figures for the same period a year ago were 873 loans totaling nearly $84.8 million. Nationally, the number of loans made through 7(a) is down 14 percent so far this fiscal year.

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Resources for

• Equipment Leasing
• Working Capital
• SBA Loans