Success of SBA Lending in 2012
SBA-backed lending in the new fiscal year continues to rebound. FY 2012 was SBA’s second biggest loan volume year ever, in dollar terms, second only to FY 2011, which got a huge boost in the first quarter from the Small Business Jobs Act of 2010. Loan approvals for FY 2012 for 7(a) and 504 combined reached $21.8 billion ($30.25 billion “supported”), compared with $24.48 billion in approvals for FY2011 (or $30.5 billion supported).
• Lending so far in the new fiscal year is on par with the averages for the first two quarters of FY 2012.
• Overall, the pace of SBA loan-making is a healthy sign for the economy and the credit markets and is one of the foundations for ensuring the availability of financing to small businesses trying to establish themselves, grow and create new jobs for Americans.
For two years in a row the U.S. Small Business Administration has helped to put more than $30 billion into the hands of small business owners across the country. In fiscal year 2012 (October 1, 2011 through September 30, 2012), The pace of SBA loan-making is a healthy sign for the national economy and the credit markets and is one of the foundations for ensuring the availability of financing to small businesses trying to establish themselves, grow and create new jobs for Americans.
Right here in New England, the SBA backed just under 4,000 loans totaling $930 million in fiscal year 2012 and in Connecticut we backed 508 loans totaling $152 million. As we look forward to 2013, SBA stands ready to help you start, grow or expand your business. For more information about the SBA, visit: www.sba.gov.
SBA Increases Size Standards for Information and Admin Support, Waste Management and Remediation Services Industries
The U.S. Small Business Administration has published in the Federal Register two final rules revising size definitions for small businesses in two broad industry categories, and proposed for comment another rule affecting businesses in a third category.
The industry sectors affected by the two final rules are Information and Administrative and Support, Waste Management and Remediation Services. The industries covered by the proposed rule are Mining, Quarrying, and Oil and Gas Extraction. The revisions reflect changes in marketplace conditions.
Read more at: http://www.sba.gov/about-sba-services/7367/378101
Size Standards” on SBA’s Web site at: http://www.sba.gov/size.
SBA Graduates Danbury Bilingual Small Business Workshops Series
SBA and SCORE completed the delivery of five small business workshops to 35 Spanish-speaking entrepreneurs at the Danbury Library in Danbury, CT on December 11, 2012. Bilingual professionals presented the following workshops in Spanish:
Access to Capital & Understanding Credit Reports
The 5 C's of Credit - What Lenders look for
Marketing & Promoting your Business - SWOT Analysis
The ABC's of a Business Plan
Lender's Forum & Certficate presentation
These classes were also held in: Stamford, Bridgeport, and New London in 2012. In 2013 the city of Waterbury will also be added to the agenda. SBA staff in Connecticut devised these unique workshops because of the increasing number of Latino-owned businesses in the state. More than 200 students have learned about the tools for success and how to access capital since the program was introduced in 2011.
The U.S. Small Business Week Nomination Guidelines - Nominations are due January 3rd, 2013.
The U.S. Small Business Administration Connecticut District Office is seeking nominations for the 2013 Small Business Week Awards. Please contact Moraima Gutierrez, 860-240-4654 or firstname.lastname@example.org.