SBA New England Regional Review October 2012

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October 2012

New England Regional Review

Brought to you by the U.S. Small Business Administration Boston Regional Office

 

The results are in:  $1.4 billion in loans supported to New England small businesses

The SBA backed  4,119 loans supporting just under $1.4 billion in lending in the six New England states in fiscal year 2012. (SBA’s fiscal year ran from October 1, 2011 through September 30, 2012)

The SBA guaranteed 3,314 loans through its flagship 7(a) Loan Guaranty Program for a total of $557 million.

The Certified Development Company/504 Loan Program was front and center this year and posted its best year ever with 636 projects totaling $869 million in loans supported.  The temporary refinancing provision which expired in September, was partially responsible for the record year.

The SBA booked 180 microloans totaling $4.5 million through its intermediaries located throughout New England.  

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SBA Makes Commitment to Encore Entrepreneurs

Rhode Island event

Rhode Island SCORE chapter chair William Welsh discusses business ideas with Lynn Petrinio (center) and Izilda Silveria.  They were among the 40 attendees at the Rhode Island Encore Entrepreneur Day event held at the Center for Women & Enterprise in Providence.

Today there are over 76 million Baby Boomers in the country.   Recent research found that one in four Americans between the ages 44 and 70 are interested in starting their own business or nonprofit venture in the next five to ten years. As a result of this research, SBA and AARP have teamed up to train and counsel 100,000 of the 50+ entrepreneurs who think that small business ownership is a good option.

In New England, SBA/AARP offered workshops from New Haven, Connecticut to Wiscasset, Maine on October 2, 2012 to help educate 270 baby boomers about programs and services that can help them realize their small business ownership dreams. 

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Follow SBA New England on Twitter and "Like" Us on Facebook

Are you connected?  In this day and age, the fastest way to find out the latest in what the SBA has to offer entrepreneurs in your area is to like us on Facebook (SBANewEngland) and follow us on Twitter (@SBA_NewEngland).  We bring you live reports and send out daily reminders of what is happening across New England for small business owners.  These social media outlets even offer a way for you to connect with other entrepreneurs.  It is important to keep networking active at all times- stay on top of the social media curve.  "Follow" us or "Like" us today!  SBANewEngland.

 

 

Discuss, share and get insight from your fellow business owners as well as industry and government experts.

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