Fresno District Office - July 2022 Small Business Newsletter

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Fresno District Office  

u s small business administration

Get Funded - SBA 7a Loans

7a

SBA’s most common loan program, which includes financial help for businesses with special requirements.

 

 

 

What is the 7a Loan Program?

The 7(a) Loan Program, SBA’s most common loan program, includes financial help for small 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 

The maximum loan amount for a 7(a) loan is $5 million. Key eligibility factors are based on what the business does to receive its income, its credit history, and where the business operates. Your lender will help you figure out which type of loan is best suited for your needs.

Am I eligible?

To be eligible 7(a) loan assistance, businesses must:

  • Operate for profit 
  • Be considered a small business, as defined by SBA 
  • Be engaged in, or propose to do business in, the United States or its possessions 
  • Have reasonable invested equity 
  • Use alternative financial resources, including personal assets, before seeking financial assistance 
  • Be able to demonstrate a need for a loan 
  • Use the funds for a sound business purpose 
  • Not be delinquent on any existing debt obligations to the U.S. government 

Some businesses may not qualify for a 7(a) loan. Read more about Terms, conditions, and eligibility.

How do I use a 7a Loan?

Basic uses for the 7(a) loan include: 

  • Long- and short-term working capital 
  • Revolving funds based on the value of existing inventory and receivables 
  • The purchase of equipment, machinery, furniture, fixtures, supplies, or materials 
  • The purchase of real estate, including land and buildings 
  • The construction a new building or renovation an existing building 
  • Establishing a new business or assisting in the acquisition, operation or expansion of an existing business 
  • Refinancing existing business debt, under certain conditions

What do I need to apply?

When you’re ready to apply, you’ll need to gather the appropriate documents. Start the process by working with your local lender within SBA guidelines.

 

 

Click Here to Learn More

 


Government Contracting  

Basics about the new entity validation process in SAM.gov: 

  • If you want to register in SAM.gov or even just get a Unique Entity ID, you must validate your entity information with our new Entity Validation Service (EVS) provider.
  • If your entity information does not match the information presented in SAM.gov, you will create an incident and provide documentation to complete validation. 
  • Once you create an incident, our entity validation service will review your ticket and contact you via email if we require additional information or documentation. If needed, you can go to your SAM.gov workspace and add more documents. Please respond promptly to any emails requesting documentation or clarification. 

You will receive an email notification once validation is complete instructing you to go back into SAM.gov to accept the match.  

The balance of this blog will address the things you should and should not do when creating an incident, attaching documents, and checking status.  Remember, a few minutes spent describing the issue and attaching the correct documentation will reduce review time and speed up processing of your incident. 

Creating an Incident: If you cannot locate a match to your entity’s legal business name and physical address, or to your incorporation information, you need to select the “Create Incident” button and follow the instructions. 

  • Use the text box to clearly and completely describe your situation and include the document name you will attach to the incident. Here are a few examples:  
    • I’ve provided my organization’s 2021 tax return certified by the IRS and recent utility bill to prove my entity’s legal business name and address. 
    • There is a similar entity name, but we have never used the address shown so I have attached my certified Articles of incorporation in Articles.pdf. 
    • I have attached my Employer Identification Number documentation from the IRS since the address is correct but the name does not match ours.   
  • Attach one or more documents that prove your entity's legal business name, physical address, date of incorporation, and state of incorporation (for U.S. entities). 
    • Entities based outside of the U.S. must attach documents to prove your entity's legal business name, physical address, date of incorporation, country of incorporation, and (if applicable) national identifier. 

Do not submit multiple validation tickets for the same issue. Creating multiple incidents does not expedite our handling of your issue and actually slows down the overall process. Incidents are processed in the order received.

Attaching Documentation: You must attach documents that prove your entity information. At least one document must show both your legal business name and physical address on the same document. This document cannot be more than five years old. All documents you submit need to have your legal business name and other information you are validating (e.g. date or state of incorporation).

This is a list of examples.  We accept documentation from state or federal verifiers (or a city/county in rare cases of at-home businesses that would involve an address validation) or a utility that requires a credit verification.

Documents for Legal Business Name and Physical Address

Accepted Documents

  • Certified copies of the following:
    • Share certificates
    • Articles of organization/incorporation
    • Tax returns/filings*
    • Certificate of formation
    • Articles of formation
    • Certificate of organization
  • Utility bills
  • Bank statements*
  • “Doing business as” documentation
  • Stock ownership
  • Employer Identification Number documentation from IRS
  • Tax ID confirmation documents from IRS
  • Company bylaws
  • Operating agreements

Do Not Send

  • Applications you submitted without evidence of receipt or approval from an authority
  • Your own documents that have not been stamped or verified by an authority
  • Screenshots from SAM.gov, dla.CAGE.mil, or any other government system that stores your name and address 
  • DUNS profiles
  • Notarized entity administrator letters
  • IRS form W-9 (request for Taxpayer Identification Number) and IRS form SS4 (application for an Employer Identification Number)
  • Leases
  • Passports, unless they include the current physical address

*Tax returns or filings and bank statements should be redacted or limited; they only need to show relevant data to prove the information you are validating is true.

Documents for Date and State of Incorporation*

Accepted Documents

  • Anything from the Legal Business Name list that includes also the state and month, day, and year of incorporation (U.S.-based entities)
  • Anything from the Legal Business Name list that includes also the country and month, day, and year of incorporation (Non-U.S.-based entities)

Do Not Send

  • Applications you submitted without evidence of receipt/approval from an authority
  • Your own documents that have not been stamped/verified by an authority
  • Screenshots from SAM.gov, dla.CAGE.mil, or any other government system that stores your name and address 
  • DUNS profiles
  • Notarized entity administrator letters
  • IRS form W-9 (request for Taxpayer Identification Number) and IRS form SS4 (application for an Employer Identification Number)
  • Leases

*If your entity is not incorporated, provide documentation of the month, day, and year that your entity legally began doing business or was founded. 

Documents for National Identifier**

Accepted Documents

  • Employer Identification Number Documentation
  • Tax Identification Documents*
  • Tax Returns/Filings*

Do Not Send

  • Applications you submitted without evidence of receipt/approval from an authority
  • Screenshots from SAM.gov, dla.CAGE.mil, or any other government system that stores your name and address 
  • DUNS profiles
  • Notarized entity administrator letters

* Tax returns or filings and bank statements should be redacted or limited; they only need to show relevant data to prove the information you are validating is true.

**Entities based outside of the United States only

What happens next? 

Checking your Incident Status: The entity validation team will communicate directly with you via your ticket. Although we share a ticketing system, our Federal Service Desk (FSD) agents are separate from the entity validation process and cannot review your entity validation incident or the documentation you have submitted. FSD agents cannot provide entity validation ticket updates or escalate your ticket. We understand that the review process is taking additional time, but the entity validation service will respond to your ticket. They have increased resources to improve response time and expect to be in touch very soon. 

Learn more about the entity validation process here. 


SBA Lending

Lending

SBA Lending 

 

SBA Fresno District Lending reports will now be available for each newsletter.  

 

Click Here for Most Recent Report


International Trade

Export

SBA Export Products 

 

Export finance programs

Most U.S. banks view loans for exporters as risky. This makes it harder for you to get loans for things like day-to-day operations, advance orders with suppliers, and refinancing existing debts. That’s why the U.S. Small Business Administration (SBA) created programs to provide lenders with up to a 90% guaranty on export loans.

Learn more about SBA export loan programs by contacting your local SBA Export Finance Manager or SBA's Office of International Trade. Access a list of participating export lenders.

Export Express loan

Export Express lenders can directly underwrite a loan without getting prior approval from SBA, which allows you to get capital quickly. Loans are typically approved within 36 hours, and can be up to $500,000.

Export Working Capital loan

Export Working Capital loans allow small business owners to apply for loans in advance of finalizing an export sale or contract, giving exporters greater flexibility in negotiating export payment terms. These loans can be up to $5 million, and the turnaround time is usually five to 10 business days.

Find contact information for lenders who have delegated authority to process, close, service, and liquidate SBA-guaranteed EWCP loans.

International Trade loan

International Trade loans help small businesses enter international markets and make investments to compete with other importers. These loans offer a combination of fixed asset, working capital financing, and debt refinancing with SBA’s maximum guaranty of 90% on the total loan amount. The maximum loan is $5 million in total financing.

 


Online Training

VetTrng

Entrepreneurial Training

 

Like all successful missions, small business ownership starts with training. That’s why SBA empowers service members, veterans, National Guard and Reserve members, and military spouses with entrepreneurial trainings and resources right in their local community. Through a network of partners and grantees, SBA offers specialized training programs for women veterans, service-disabled veterans, and veterans interested in federal procurement. Entrepreneurs across the nation can access these programs in-person or virtually at every stage of small business ownership.

 

Learning Center

Ascent

 

Women own or co-own 45% of all businesses in the United States. These businesses represent all types of industries and are owned by all types of women. The majority are small, with great potential for growth in both revenues and job creation. That’s why we created Ascent and packed it with in-depth information to help you grow your business. Click to edit this placeholder text.

 

Learn more 


Small Business Assistance - SBA Partners

WBC2022

Fresno to Welcome New Women's Business Center!

 

Administrator Isabella Casillas Guzman, head of the U.S. Small Business Administration (SBA) and the voice for America’s 32.5 million small businesses in President Biden’s Cabinet, announced the selection of five new Women’s Business Centers (WBC) operated by established Minority Serving Institutions (MSI). The announcement comes during National Small Business Week and highlights the SBA’s continued commitment to leveling the playing field for women small business owners and building a better America through entrepreneurship.

“Under the leadership of the Biden-Harris Administration, our nation has seen a historic small business boom with 2021 new business applications 20% higher than any year on record,” said Administrator Guzman. “And women – especially women of color - continue to lead the way with the highest startup rates. The SBA is committed to creating inclusive entrepreneurial support ecosystems so that any of our new - as well as our established - women entrepreneurs can successfully pursue their American dreams of starting, growing and building resilient businesses.  And with SBA’s opening of five new Women’s Business Centers at Minority Serving Institutions across our country, we can help improve outcomes so they can do what they do best – create jobs, power our economy, and build a better America through entrepreneurship.”

 

Below is the full list of new WBCs hosted by MSI:

  • California State University, Fresno Foundation, Office of Community and Economic Development (OCED)
  • CSU Fullerton Auxiliary Services Corporation on behalf of California State University, Fullerton
  • Miles College Center for Economic and Social Justice
  • National Institute of Minority Economic Development, Inc. on behalf of Bennett College
  • Rockville Economic Development on behalf of Bowie State University

“We continue to see gaps in access to equitable resources for the growing community of women entrepreneurs. Under the leadership of Administrator Guzman, the Office of Women’s Business Ownership looks forward to continuing to create initiatives to ensure that SBA resources reach every woman entrepreneur no matter their race, ethnicity, socioeconomic status, or location,” said Natalie Madeira Cofield, Assistant Administrator, SBA Office of Women’s Business Ownership.

 

This historic funding announcement builds on strategies outlined in the recently released SBA Equity Action Plan and the Biden-Harris Administration’s equity agenda.

 

The selected MSI WBCs will support technical assistance to women entrepreneurs; assist nascent entrepreneurs in business plan development and accessing capital; provide educational experiences for MSI students interested in entrepreneurship; offer outreach services and activities, including training, workshops, and information dissemination to MSI students; and support the development and dissemination of curricula, training materials, guides, and evidence-based practices that can be used to enhance entrepreneurship education.

 

In March 2022, OWBO announced the expansion of its national WBC network to all 50 states and Puerto Rico after it launched its 141st WBC in Anchorage, AK. Of note, this is the first WBC to operate in Alaska in over a decade.  

 

Since March 2021 alone, 25 new Women’s Business Centers have opened. Among the newest WBCs are three affiliated with Historically Black Colleges and Universities (HBCUs) and two in Puerto Rico. This announcement marks the continued expansion by OWBO to support the largest WBC network in the history of the SBA.

 

This announcement also highlights the Agency’s commitment to creating funding opportunities that increase equity for small business owners – a priority under Administrator Guzman. The newest center, based in Anchorage, will help increase opportunities and recovery solutions for women entrepreneurs and continue the SBA’s outreach efforts to diverse communities, such as rural-based and Native American and Indigenous-owned small businesses.

 

Along with SBA’s extensive resource partner network, Women’s Business Centers are part of an Agency-wide effort to offer one-on-one counseling, training, networking, workshops, technical assistance, and mentoring to entrepreneurs on numerous business development topics, including business startup, financial management, marketing, and procurement. Through the Community Navigators Pilot Program alone, 27 of 51 hub organizations will focus primarily on supporting women business owners.

 

In addition, the WBC network helps entrepreneurs pivot, grow, and navigate new opportunities created through President Biden’s Bipartisan Infrastructure Law, such as contracting, competing in the burgeoning industries solving climate change, and helping expand global exporting. By broadening its access to capital pipelines, the SBA has also directly invested in women entrepreneurs through critical programs such as the Restaurant Revitalization Fund ($7.5 billion distributed to women-owned businesses), 7(a) loan program ($5 billion), and 504 program ($712 million) while awarding over $27 billion in government contracts to women-owned firms.

 

To find other WBC locations and additional SBA resources, visit www.sba.gov/tools/local-assistance.

 

 


SBDC

Central California Small Business Development Centers

The SBDC Network serves 14 counties in Central California with six dedicated SBDC Centers.

Our expert Business Advisors will work with you and your company across multiple disciplines, whether it’s preparing a strategic plan, developing digital marketing strategies, streamlining operations, accessing capital, or launching an innovative technology start-up.

Contact your local SBDC Service Center to arrange a no-obligation meeting to learn more about how we can be of assistance. For more information on the Center nearest you, visit our Locations page.

 

Contact SBDC

wbc

Womens Business Centers

Mission Community Services Corporation (MCSC) formed in 1998 and is a 501(c)3 that has been host to the Small Business Administration Women’s Business Center (WBC) since October 2006.

MCSC's Women's Business Center is  full-service, technical assistance and training resource for entrepreneurs of all stages. Special focus is directed to underserved low-to-moderate income minority women. Although we operate as the Women's Business Center we inclusively serve all small businesses. Our service territory covers San Luis Obispo, Kern, and Monterey counties. 

MCSC is in its 15th continuous year and was recognized as the 2020 Women's Business Center of the Year for the San Joaquin Valley and Central Coast Region.

 

Contact WBC

VBOC

Veteran Business Outreach Centers

The Center provides small business services to Veterans, DVBE, Reservist and Guard Members in their initiatives to start, cultivate or expand a business initiative.

The Center offers  small business training services in areas of business development, marketing, sources of capital, government contracting, financial management, operational infrastructure design and implementation, acquisitions and mergers, employee relations, business planning and much more.

Educational workshops are offered in areas of Business Basics, Marketing, Franchising, Business Plan Development, Financing and Government Contracting.

Contact VBOC

 

SCORE

SCORE

We believe that anyone can start a small business with the right support. We also know that the road is harder for some than for others. SCORE for All is the bridge that makes the journey to success more direct and sure-footed for entrepreneurs who need more support.

Diverse backgrounds, different voices and unique needs may call for specialized resources or a personalized approaches in mentoring.  SCORE is listening, recognizes and fulfills these diverse needs in a wholly inclusive platform called SCORE for All.

 

Contact SCORE


Feedback

WE VALUE YOUR FEEDBACK!

 

If you are a current or prospective small business owner, who has interacted with the SBA Fresno District Office, take our customer service experience feedback survey to help us better determine how we can improve our services.

 

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