SBA New England Region One Review - January 2022

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SBA New England Regional Office - January 2022

u s small business administration

New Year, New Opportunities

image of RA Mike Vlacich

Mike Vlacich

Regional Administrator

New England Regional Office

U.S. Small Business Administration

Recently, we turned the last page on our calendar and entered 2022, the second time we reached the end of the year since the start of the COVID-19 pandemic. As we look back on record economic growth and job creation(a record 6.4 million US jobs) this past year even amidst pandemic driven difficulties, we continue to stay vigilant tackling new challenges while finding new opportunities for change and growth. 

As planned, on December 31, 2021, SBA stopped accepting new applications for our COVID-Economic Injury Disaster Loan (EIDL) program.  Over the last 2 years, this program has served as a lifeline for small businesses across New England and across the country. Over the course of the program, over 143,714 entities received loans for $12.9 billion.  COVID-EIDL was designed to provide economic relief to businesses that were experiencing a temporary loss of revenue due to COVID-19.  Although this program is no longer open to new applicants, there is still opportunity for existing borrowers to request more funds. You can read more about COVID-EIDL increases here:

Even with the closure of COVID-EIDL, the SBA is still here to help. Our traditional lending programs are a good option for established and startup small business owners.  Through our traditional lending programs, SBA works with lenders to provide loans by setting guidelines for loans made by our partnering lenders, community development organizations, and micro-lending institutions. We reduce the risk for lenders, which makes it easier for small businesses to get loans. You can find out more about our regular funding options here:

Funding is only a piece of the SBA Story. We also offer business counseling, training, and management advice through our extensive resource partner network.

In January we celebrate National Mentoring Month.  This is a great time to reach out to one of our partners for business counseling. One of the best things you can do for your business, particularly in times of uncertainty, is seek out a business mentor.  In fact, over the last two years, our resource partners SCORE Mentors, Women’s Business Centers (WBOC), Small Business Development Centers (SBDC) and Veteran Business Outreach Centers (VBOC) have taken on an impactful role in assisting with our relief efforts by counseling our local businesses and helping them work through the challenges of operating a business during a pandemic and finding the financial assistance they need to survive and thrive.  You can search for an SBA resource partner near you here:

Another opportunity for growth and recovery in 2022 is the Community Navigators Program.  Community Navigators, an American Rescue Plan initiative, is designed to reduce barriers that all small businesses, including those owned by disadvantaged groups such as veterans, women, and those from rural communities and communities of color, often face in accessing critical support.  There are five Community Navigators in New England, and we will work with them in the coming weeks as they get their programs off the ground. For additional information on SBA’s Community Navigator Pilot Program please visit   

As we continue in 2022, SBA is dedicated to the success of small businesses across New England and the entire country. Regardless of what comes your way during your journey as a small business owner, if it is times of turmoil and uncertainty or times of prosperity, the SBA is here to help you grow and change with new opportunities and resources at every stage. 

SBA Administrator Isabella Casillas Guzman Visits SBA New Hampshire

image of the exterior of derry opera house

On January 14, SBA Administrator Isabella Casillas Guzman made her first visit to New Hampshire since she was sworn in on March 17, 2021.  SBA New England Regional Administrator Mike Vlacich and SBA New Hampshire District Director Amy Bassett welcomed Administrator Guzman to the state.

The first stop was a visit to the Derry Opera House in Derry, New Hampshire with Senator Maggie Hassan and Congressman Chris Pappas. Derry Opera House was a Shuttered Venues Operator Grant recipient.  

image of interior of grind rail cafe

Next the group walked down the street to The Grind Rail Trail Café. Café owner Melanie Davis was able to survive the impact of the COVID-19 pandemic with support through the SBA’s Paycheck Protection Program and the Restaurant Revitalization Fund.

The day concluded after, Administrator Guzman and Congressman Pappas traveled to Manchester to visit and tour the Palace Theatre President and CEO Peter Ramsey, Joyce Craig, Mayor of Manchester, New Hampshire and Mike Skelton, President, Greater Manchester Chamber of Commerce. While at the Palace Theatre the group participated in a small business forum with local business owners. These small business forums are a great opportunity to hear the concerns, challenges and successes of the local business community.  The businesses also get to learn more about resources available for their continued growth.  

Since June 2021, Administrator Guzman has visited 22 states and U.S. territories, including Puerto Rico. SBA New England and SBA New Hampshire were happy to host Administrator Guzman for the day and we are looking forward to future visits!

image of roundtable

Image of attendees at the New Hampshire Small Business Forum with Congressman Chris Pappas & Small Business Administrator Isabella Casillas Guzman

Photo of two people with the following text, National Mentoring Month. The SBA logo is at the bottom.

Need Help with Your Business Goals? Consider a Mentor

January is National Mentoring Month, a time to benefit from the expertise of an experienced business coach, adviser, or role model — if you don’t already. Learn about the unique advantages of having a mentor.

Whether you are new to business ownership, or a seasoned entrepreneur, a mentor can help you navigate the challenges of starting or managing a business. Most entrepreneurs agree that every business owner could use a mentor. In fact, according to a Sage survey, 93% of small and medium sized businesses see the value of business mentors. And yet, in the same survey, only 28% of those businesses report using mentoring services.

Read more about the benefits of business mentors→ Need Help with Your Business Goals? Consider a Mentor (

National Mentoring Month Events

Business Trends 2022 with SCORE Mentors

January 27, 2022, 2PM - 3:30PM


Join Merrimack Valley New Hampshire SCORE for a webinar on upcoming business trends for 2022.  Learn how to stay up-to-date on small business marketing efforts with online marketing, internet security and privacy, automated marketing initiatives, and learn what’s new in the marketing trend forecast for 2022.

If you are a small business owner ready to discover the best marketing efforts to put your business on the right track for the coming year, this FREE workshop includes promising opportunities for you to grow your small business.

Register Here


SCORE Mentors Virtual Power Lunch

January 31, 2022, 12:00PM - 1:00PM


Join SCORE and the Connecticut SBA to find out how you can benefit from a mentor's help as you start, grow or pivot.  

Sign up to hear from SCORE leaders, mentors and small business owners who will share their perspective of SCORE mentoring.

In these challenging times, SCORE mentors can help steer small businesses to success.

Also, if you are an experienced business professional thinking about giving back to your community – join in to hear what it is like to help mentor small businesses.

Register Here

fund your business with an SBA loan

SBA Lending Across New England

7(a) Lending

The 7(a) Loan Program, SBA’s most common loan program, includes financial help for businesses with special requirements. This is the best option when real estate is part of a business purchase, but it can also be used for: 

  • Short- and long-term working capital 
  • Refinance current business debt 
  • Purchase furniture, fixtures, and supplies 

Find out more about 7(a) Loans.

So far in Fiscal Year 2022 (October 1, 2021 - December 31, 2021) SBA approved 524 7(a) loans across New England for $160,035,500. The top 5 7(a) lenders for this time period by number of loans are: 

Lender Name # of Loans $ Amount
Eastern Bank 57 $7,146,400
Webster Bank 55 $10,165,300
TD Bank 43 $5,522,800
Newtek Small Business Finance, Inc. 29 $17,269,600
Needham Bank 16 $5,559,000


504 Program

The CDC/504 Loan Program provides long-term, fixed rate financing of up to $5 million for major fixed assets that promote business growth and job creation.

504 loans are available through Certified Development Companies (CDCs), SBA's community-based partners who regulate nonprofits and promote economic development within their communities. CDCs are certified and regulated by the SBA.

Find out more about 504 Loans.

For the same time period, the 504 Certified Development Companies approved 238 loans across New England for $149,601,000. The top 5 504 lenders for this time period by number of loans are:

504 CDC # of Loans $ Amount
Granite State Economic Development Corporation 95 $54,092,000
Bay Colony Development Corporation 50 $30,384,000
New England Certified Development Corporation 40 $29,288,000
Community Investment Corporation 17 $11,502,000
South Eastern Economic Development Corporation 8 $7,561,000


Local Business Assistance

Stay up-to-date on SBA programs, changes, reforms and training webinars by subscribing to SBA email updates (if you aren't already on our mailing list) at:  And by following the New England SBA office in your state on twitter: 

New England: @SBA_NewEngland

Connecticut: @SBA_Connecticut

Maine: @SBA_Maine

Massachusetts: @SBA_MA

New Hampshire: @SBA_NH

Rhode Island: @SBA_RhodeIsland

Vermont: @SBA_Vermont