Seattle SBA Reporter October 2012

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Seattle District Office

SBA Small Business Lending Sets Record in FY 2012

SBA lenders in the Seattle District Office region had a record year in Certified Development Company (CDC) CDC/504 lending, while 7(a) lenders recorded the second-highest dollar value of loans to help start and expand small businesses.  This lending mirrored national SBA lending, with a record dollar amount of 504/CDC lending and second highest dollar value of SBA 7(a) loans on record.    

During the last five years more than $3 billion in SBA guaranteed financing has gone to support small businesses in the Seattle District Office territory, which includes 35 of 39 Washington state counties and 10 counties in the Idaho panhandle.    

During the fiscal year starting October 1, 2011 and ending September 30, 2012, 91 lenders made 1,219 7(a) loans, worth more than $468 million.  Six CDCs made 211 loans for more than $169 million.  Adding the $211 million of private lending credit on these deals, businesses realized $380 million in 504 commercial real estate and fixed asset financing last fiscal year.  Click on this link to see the list of lenders who made 10 or more 7(a) loans last fiscal year.  

Nationwide SBA lending supported $30.25 billion in loans to small businesses.  For more on national fiscal-year-end lending from SBA, go to this press release 

 

SBA Deputy Administrator Visits Seattle District Office

Deputy Administrator Johns and Seattle District Office Director Nancy Porzio

 

Deputy Administrator Marie Johns was in Seattle October 12, where she met with SBA staff and resource partners, including representatives of SCORE and the Women’s Business Centers (WBC).  Deputy Johns discussed the importance of counseling and training for entrepreneurs and referred to two recent initiatives. 

Encore Entrepreneur Mentoring is a partnership with AARP and will focus on training for individuals aged 50+ who are starting new businesses.  Boots to Business, a new program that trains veterans to create businesses, will offer training through SCORE, WBCs, Small Business Development Centers (SBDCs) and Veteran Business Outreach Centers (VBOCs). Both initiatives will encourage more jobs through business ownership. 

Deputy Johns hosted a roundtable discussion at Evergreen Business Capital with 15 local women business owners to examine issues and successes of women in business.  Whitney Keyes, owner of Whitney Keyes Productions, led the group discussions about access to government contracting, issues of securing funding and the impact of regulations on managing a successful business.

This was Deputy Johns’ first visit to Seattle.  She is beginning her third year with the SBA, helping promote and support small business development and growth. 

Entrepreneurship Education Featured in Tacoma

The Washington State Microenterprise Association is hosting a two-day Entrepreneurship Symposium October 25-26 at the Hotel Murano in downtown Tacoma.  It offers small businesses, services providers and community leaders an opportunity to meet and consider innovative approaches for starting and expanding small businesses. 

In addition to two days of workshops and seminars, the event features two prominent speakers on the subject of entrepreneurship.  Michael Shuman is an economist, attorney, author and entrepreneur.  His most recent book is “Local Dollars, Local Sense:  How to Move Your Money from Wall Street to Main Street and Achieve Real Prosperity.”  He regularly helps communities analyze economic "leakages" and job-creation opportunities.

Todd Greene is vice president for economic and community development in the research division at the Federal Reserve Bank of Atlanta.  His responsibilities include providing leadership, strategic direction and oversight for the community and economic development division.

Session workshops and presentations include crowdfunding, food systems and co-ops, workforce programs, exporting, government contracting, social media and much more.   For more information and to register, go to www.wamicrobiz.org.

Washington State Develops New Opportunities for Small Business Financing

The Washington State Department of Commerce has rolled out three new programs to spur small business growth and create jobs throughout the state.  The Small Business Credit Initiative is a federally funded program, financing a variety of business-related needs while helping lenders provide financial solutions to their small business clients.  Most small businesses, including non-profits, can qualify for one or more of these programs.

The Capital Access Program (CAP) is designed to help banks make loans in the range of $5,000 up to $5 million to businesses that fall short of conventional approval criteria.  All banks with locations in Washington are able to apply to become a CAP lender and receive federal funds for loan-loss reserves.  CAP funds cannot be used with an SBA-guaranteed loan.

Craft3 Fund provides small businesses in underserved communities with financing of $1 million - $5 million.

The W Fund is a venture capital program that invests in early-stage life science, biotech, medical device, alternative energy, and information technology. 

For more information go to www.commerce.wa.gov/site/1400/default.aspx , or contact Jane Swanson, (206) 256-6155.