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
 
May 5, 2011 - PRLog -- From the desk of Judy Aragon, District Director AMAGF Nevada
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/news
To:  JAragon@AMAG.ORG
******************

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,” SBA Administrator Karen Mills said.  “These businesses are among the hardest hit by the recent economic downturn and helping them to recover, expand and create jobs will strengthen both their local and our nation’s economy.

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
Source:Judy Aragon AMAGF
Email:***@amagf.org Email Verified
Zip:89120
Tags:7a, 504, Patriot Express, Sba, Federal Programs, Finance, Loans, Loan Packaging, Sba Loan Packaging
Industry:Financial, Business
Location:Las Vegas - Nevada - United States
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