SBA Improves Small Business Access to Loan Programs and Enhances Job Creation

Excellent news for small business owners seeking government-backed loans: the eligibility requirements for Small Business Administration loan programs have expanded and are allowing more businesses to enroll.  If your business didn’t qualify before, it may now. Digital Journal reported that the SBA’s two main loan programs– 7(a) and 504— would start seeing eligibility changes soon, and […]

Your Money or Your Life!

For those of you old enough to remember the great comedian Jack Benny, you may recall his long, drawn out pauses when being prompted with questions from bandits that often times concluded with a “Well…?!” from the bandit. Benny, a legendary cheapskate, quickly replies, “I’m thinking! I’m thinking!”  As business owners in search of capital, […]

How Small Business Credit Has Changed Since The Great Recession

With strict qualifications for traditional loans, many small business find their loan applications denied. SBA lending is a great alternative to traditional commercial loans– SBA loans have longer amortization periods and can offer higher loan amounts. The SBA finances small business comprable to banks but with more reasonable application standards for emerging businesses. Read more about SBA lending in this Q&A with First State Bank Senior Vice President and Loan Officer, Steve Valiquette:  

The Small Business Administration’s (SBA) lending program is a major part of U.S. business growth, and these loans can often be substituted for traditional commercial loans with some benefits to the borrower.

Why Are You Getting Rejected For Business Loans?

Receiving a rejection letter for a business loan you were counting on can be discouraging. Data from the Small Business Administration (SBA) reveals that nearly 50% of small business loan applications are rejected for a variety of reasons. Understanding the most common reasons banks decline loan applications can be useful for your own business endeavors. […]

Walking Through the Valley of Death with the SBA

A well-known term in the venture industry, “Valley of Death,” can be a financial nightmare for early-stage startups, especially for those that depend on large amounts of funding to bring products to the market.  Companies highly invested in developing innovative technology and products are those that tend to suffer the consequences of this “Valley of Death.”  So, what is this canyon […]

Community Development Financial Institutions Fund: What You Need to Know

Community Development Financial Institutions (CDFIs) are companies, certified by the US Department of Treasury, that offer access to capital to economically distressed communities.  The US Department of Treasury explains, “Through monetary awards and allocation of tax credits, the CDFI Fund helps promote access to capital and local economic growth in urban and rural low-income communities across the nation.”  These companies may be banks, credit unions, […]