Whether you need some extra funding for an expansion or second location, working capital, new equipment or just general start-up funding… the SBA can help ensure you are ready to tackle all your entrepreneurial dreams. And with recent record setting loan numbers, now is as good of a time as ever to explore your options in SBA financing:
SBA Lending up nationally during the past year
SBA Loan dollars increased by 23 percent overall during fiscal year 2015, including:
- Lending up 45 percent to African-American entrepreneurs
- Lending up more than 25 percent to women, Hispanic and Native American entrepreneurs.
SBA Microloan Program in the Seattle District
Helps “pre-bankable” entrepreneurs grow their business with loans ranging from $500 to $50,000.
- 52 percent of local microloans went to women entrepreneurs
- 21 percent went to African-American entrepreneurs
Two big opportunities for entrepreneurs needing access to capital should be noted as well:
- Through September 30, 2016, the SBA fee is waived on all loans $150,000 or less
- The SBA fee is reduced by 5 percent on all loans above $150,000 for veterans
So if you are looking for that extra money to make a big move for your small business, consider reaching out to an SBA lender in your area through our new “matchmaking” tool, SBA LINC. A few simple questions online and you’ll be connected with a lender that can help you get the access to capital that your business needs to get to that next level.
