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Follow on Google News | From the desk of Judy Aragon, District Director AMAGF Nevada (Information obtained from www.sba.gov)Fantastic news, SBA funding report through 4/16/2011 & The Appointment of new Lenders to aide the promotion of small business. The numbers are out and SBA loan approvals have exceeded the majority of all of last years business categories!
By: Judy Aragon AMAGF Information obtained from SBA.GOV Loan APPROVAL report as of 4/16/2011 2010 YTD 2011 YTD__________ #Loans $Approved #Loans $Approved 7(a) & Arc Loans 31,661 8,162,168 32,038 12,723,487 Startup Loans 8,394 2,058,127 9,075 2,937,450 Existing 23,267 6,104,040 22,963 9,786,037 Minority 5,947 1,870,549 6,692 3,143,602 African Amer 883 145,926 852 198,130 Hispanic 1,692 340,231 1,898 493,219 Asian 3,162 1,343,400 3,700 2,387,880 Native American 199 39,489 242 64,373 Oth Min 11 1,505 0 Rural 8,406 2,017,890 7,095 2,933,054 Women 5,767 1,144,709 5,341 1,507,148 Undetermined 1,829 526,751 2,495 1,062,239 Veterans 2,575 557,727 2,226 702,407 Int. Trade 880 381,669 578 316,076 $150,000+Under 19,758 953,562 16,919 923,337 PLP Loans 8,474 4,600,432 9,959 7,286,330 SBA EXPRESS 10,834 841,307 14,394 1,516,848 COMM EXPRESS 2,208 57,205 1,523 38,053 ARC Loans 4,220 136,228 Unreported *****PLEASE NOTE: Based on the figures provided by SBA, You will notice that many categories have already exceeded (2010) last year’s numbers. Loan numbers along with Approvals are way up. Many of you who are going to your own lending institutions and have been told that there is NO money and that SBA is not helping small business, have been given WRONG Information. Please contact your AMAGF Professional at 702-527-7777 to get the latest information regarding SBA Financing and how AMAGF can help you increase cash flow in order to create more sales, which will then give you the opportunity to hire more AMERICANS. ************************************************************ SBA Approves First Six Lenders to Start Making Community Advantage Loans Please note: For a list of these lenders please contact: AMAGF at 702-527-7777 Community-based, mission-focused lenders will start accepting loan applications from small business borrowers immediately ****************** Release Date: April 28, 2011 Contact: David J. Hall (202) 205-6697 Release Number: 11-27 Internet Address: http://www.sba.gov/ To: JAragon@ ****************** WASHINGTON – The U.S. Small Business Administration has approved an initial group of six community-based, mission-focused lenders to start accepting and processing Community Advantage loan applications from small business borrowers immediately, the agency announced today. The new Community Advantage pilot program was announced by SBA in December and is designed to expand access to lower dollar loans and lending in traditionally underserved communities. SBA and U.S. Department of Commerce studies have shown the importance of lower dollar loans to small business formation and growth in underserved communities. Even though SBA loans are three-to-five times more likely to go to women and minority-owned small businesses underserved communities were hit disproportionately hard by the recession. The pilot is specifically aimed at expanding points of access to capital for small business owners by opening SBA’s 7(a) loan program to community-based, mission-focused financial institutions, including Community Development Financial Institutions, SBA’s Certified Development Companies and SBA’s nonprofit micro lending intermediaries. Community Advantage leverages the experience these institutions already have in lending in economically challenged markets, along with their management and technical assistance expertise to help make their borrowers successful. “Working with these community-based, mission-focused lenders will greatly enhance our ability to bring much needed financial backing to small businesses in underserved communities, which include minority-, women- and veteran-owned, as well as rural businesses,” These lenders may begin making Community Advantage loans immediately. SBA will continue approving lenders on a rolling basis. Expanding opportunities for entrepreneurs and small business owners in underserved communities is core to SBA’s mission. As a result, all of SBA’s programs are having an impact in underserved communities. In addition to the Community Advantage pilot program, in December SBA announced the new Small Loan Advantage, which is open to the agency’s 630 existing Preferred Lenders. Both Community Advantage and Small Loan Advantage 7(a) loans up to $250,000. Advantage loans will come with the regular 7(a) government guarantee, 85 percent for loans up to $150,000 and 75 percent for those greater than $150,000. # # # AMAGF, is a Veteran Owned SBA Packaging & Placement Firm, who's main objective is to help Existing & Start Up Businesses obtain the funding needed in order to realize their dream, create better cash flow and give them the ability to hire more AMERICANS. End
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