Posts Tagged ‘U.S. Small Business Administration’
Thursday, October 20th, 2011
Is the federal government one of your customers?
 Last year more than 80 federal agencies and departments purchased in excess of $275 million in goods and services from 235 New Hampshire based small businesses. 109 of these companies were owned by veterans and they accounted for sales to federal agencies totaling more than $50 million. These purchases had values from the hundreds of dollars up into the millions.
As the world’s largest buyer of products and services the U.S. Government is committed to purchasing a portion of these from veteran owned and service disabled veteran owned businesses. How do veterans get to participate in marketing and selling to federal agencies? While it can seem like a daunting task to add the federal government as a key customer, it is being done by more and more businesses each year. More importantly, help is available to guide you through the process of identifying and responding to sales opportunities.
To help you get started in the right direction in navigating the government contracting process, representatives from the U.S. Small Business Administration (SBA) along the NH Procurement Technical Assistance Program (PTAP) will be presenting an overview of how the government contracting process works and how YOU can get started. These presentations will be made at four – two hour seminars in the months ahead. The seminars are presented for free to participants however due to space limitations pre-registration is required.
Join us, and discover the programs and services available to help you win in the world of government contracting.
Dates & Locations:
November 9, 2011 Hesser College – Manchester (1:30 – 3:30 p.m.)
February 1, 2012 Hesser College – Salem (1:30 – 3:30 p.m.)
May 2, 2012 Hesser College – Portsmouth (1:30 – 3:30 p.m.)
June 20, 2012 Hesser College – Nashua (1:30 – 3:30 p.m.)
For registration, questions or additional information contact Rachael Roderick at the U.S. Small Business Administration office in Concord 603-225-1603 email: Rachael.roderick@sba.gov or Miguel Moralez – Miguel.Moralez@sba.gov or 603-225-1601.
Tags: Hesser College, Miguel Moralez, NH Division of Economic Development, NH Procurement Technical Assistance Program, PTAP, Rachael Roderick, U.S. Small Business Administration
Posted in NH Business Matters | Comments Off on Workshops Announced to Help Veteran Owned Small Businesses Sell to the Government
Tuesday, October 11th, 2011
Small businesses throughout the Granite State continued to make gains in accessing vital capital through a growing number of lenders who employed loan guarantees for U.S. Small Business Administration (SBA) loans. The increased lending activity was intense during the first three months of the year.
 New Hampshire SBA Office District Director Greta Johansson In New Hampshire, fiscal year 2011 saw over $150 million dollars injected into small businesses through 762 loans approved using the SBA’s loan guarantee programs. This represents a 33% increase in total dollars loaned to small businesses when compared to 2010 and a 70% increase in SBA guaranteed loans since 2009. The increase in New Hampshire lending is comparable to the nation-wide increase in SBA activity, which set an all time $30 billion record.
Greta Johansson, District Director of the New Hampshire SBA Office commented, “I am greatly encouraged by the results for the 2011 fiscal year. The data demonstrates that our SBA lenders throughout the state are actively looking for opportunities to lend to qualified small business owners.” The 2010 Jobs Act provided temporary enhancements that spurred loan activity during the fall; permanent provisions, however, including a substantial increase in lending limits, helped SBA loan growth continue through the year.
In fiscal year 2011, 762 SBA guaranteed loans were approved for New Hampshire businesses. The total value of the financing included approximately $50 million for the acquisition or real property and fixed assets through the SBA 504 program. In addition, 645 loans approved through the SBA 7a program for nearly $100 million providing funds used for predominantly for working capital and new equipment purchases. This is the highest level of SBA financing in the state since fiscal year 2006.
The capital provided through SBA loans goes directly into the hands of small businesses that are saving and creating jobs each day. The loans are used to provide working capital, financing for new equipment purchases, business acquisitions and real estate purchases.
In concluding her comments on the 2011 year end results Johansson continued, “It is a good sign that small business owners in our state continue to increase their financial commitments in their businesses. In like fashion, our community banks and credit unions in growing numbers have responded to their small business clients through the use of SBA’s loan guarantee programs when needed. We look forward to 2012 as a year where these positive trends continue.”
Tags: Greta Johansson, U.S. Small Business Administration
Posted in NH Business Matters | Comments Off on New Hampshire SBA Lending Increases in 2011
Monday, September 12th, 2011
U.S. Small Business Administration (SBA) encourages businesses of all sizes and private, nonprofit organizations affected by the severe storms and flooding from August 26 through September 6 to apply for disaster loans. Home business and vacation rental owners need to be aware they are also eligible for disaster loans from the SBA.
 The disaster declaration for New Hampshire covers the counties of Carroll and Grafton, which are eligible for both physical damage and economic injury disaster loans from the SBA. In addition small businesses and some private nonprofit organizations in the following adjacent counties are eligible to apply for SBA Economic Injury Disaster Loans (EIDL): Belknap, Coos, Merrimack, Strafford and Sullivan.
Interest rates are as low as 3 percent for nonprofit organizations and 4 percent for businesses with terms up to 30 years. Loan amounts and terms are set by the SBA and are based on each applicant’s financial condition.
SBA disaster loans are for uninsured losses. Business owners should not wait for insurance settlements before applying for SBA disaster loans. The SBA will consider making a loan for the total loss up to its loan limits, provided the borrower agrees to use insurance proceeds to reduce or repay their loan.
Types of Business Loans:
·Businesses and private nonprofit organizations of any size may borrow up to $2 million to repair or replace disaster damaged or destroyed real estate, machinery and equipment, inventory and other business assets. The SBA may increase a loan up to 20 percent of the total amount of disaster damage to real estate and/or leasehold improvements, as verified by SBA, to make improvements that lessen the risk of property damage by future disasters of the same kind.
·For small businesses, small agricultural cooperatives, small businesses engaged in aquaculture and most private non-profit organizations of all sizes, the SBA offers EIDL to help meet working capital needs caused by the disaster. EIDL assistance is available regardless of whether the business suffered any physical property damage.
Your first step is to call the Federal Emergency Management Agency (FEMA) at 1-800-621-FEMA (3362). If you use TTY, call 1-800-462-7585. If you use 711-Relay or Video Relay Service (VRS), call 1-800-621-3362 or online at www.disasterassistance.gov
The filing deadline to return applications for physical property damage is November 7, 2011.
The deadline to return economic injury applications is June 7, 2012.
****ADDED NOTE: Disaster Recovery Centers have been established in the following locations to assist business owners:
Conway
Mount Washington Technology Village
53 Technology Lane
Opening Monday, September 12th at 12:00 p.m.
Then: Monday-Friday 8:30 a.m. – 8:00 p.m. and Saturday 8:30 a.m. – 4:00 p.m.
Campton
Campton Baptist Church
1345 Route 175
Opening Monday September 12th at 1200 p.m. – 8:00 p.m.
Then: Tuesday 9/13 and Wednesday 9/14 8:30 a.m. – 8:00 p.m.
Woodstock
Woodstock Town Office
165 Lost River Road
Opening Thursday 9/15 from 12:00 p.m. – 8:00 p.m.
Then: Friday 9/16 from 8:30 a.m. – 8:00 p.m. and Saturday 9/17 from 8:30 a.m. – 4:00 p.m.
Plymouth
Plymouth Town Office
6 Post Office Square
Opening Monday, September 19th from 1200 p.m. – 8:00 p.m.
Then: Tuesday 9/20 and Wednesday 9/21 from 8:30 a.m. – 8:00 p.m.
Canaan
Canaan Fire Station
62 Route 118
Opening Thursday 9/22 from 12:00 p.m. – 8:00 p.m.
Then: Friday 9/23 from 8:30 a.m. – 8:00 p.m. and Saturday 9/24 from 8:30 a.m. – 4:00 p.m.
Lebanon
Lebanon Airport Terminal
5 Airpark Road
Opening Monday September 26th from 1200 p.m. – 8:00 p.m.
Then: Tuesday 9/27 and Wednesday 9/28 from 8:30 a.m. – 8:00 p.m.
Tags: EIDL, Federal Emergency Management Agency, FEMA, SBA, U.S. Small Business Administration
Posted in NH Business Matters | Comments Off on SBA Offers Low Interest Disaster Loans to NH Businesses
Wednesday, June 29th, 2011
In just four years the U.S. Small Business Administration’s Patriot Express Pilot Loan Guarantee Initiative has provided more than $633 million in SBA-guaranteed loans to 7,650 veterans to start or expand their small businesses.
 Patriot Express, a pilot loan product, with streamlined paperwork, and based on the agency’s SBA Express program, offers an enhanced guaranty and interest rate on loans to small businesses owned by veterans, reservists and their spouses.
“As Independence Day arrives it is only natural for us to reflect on America’s veterans – men and women who have the leadership skills and experience to become successful entrepreneurs and small business owners,” said SBA Administrator Karen Mills. “The impact of this program the last four years has meant thousands of veterans and their families have had the resources to pursue their dreams as entrepreneurs, and at the same time create jobs and drive economic growth at a critical time for our country.”
Patriot Express was launched June 28, 2007, to expand upon the more than $1 billion in loans SBA guarantees annually for veteran-owned businesses across all its loan programs. SBA also offers counseling assistance and procurement support each year to more than 200,000 veterans, service-disabled veterans, reservists and members of the National Guard and their spouses.
Tags: Karen Mills, National Guard, Patriot Express, U.S. Small Business Administration
Posted in NH Business Matters | Comments Off on SBA Patriot Express Loans Top $633 Million
Thursday, June 23rd, 2011
The U.S. Small Business Administration is urging disaster victims seeking federal aid to be alert to scam artists posing as federal officials and to be cautious about any solicitations for fees to perform services that are available from federal agency staff for free.
 In the wake of widespread flooding, wildfires and tornados in many areas across the country over the past few months, the SBA is particularly concerned about flyers that have appeared in tornado-damaged areas asking for non-refundable fees of up to $450 to help disaster victims fill out their loan applications and as much as $1,000 to verify losses and file loan applications.
Federal agencies involved in disaster recovery will never ask for a fee or payment to file an application for financial assistance or to inspect damaged property.
“Historically, natural disasters bring out the very best in people, and there are countless stories of the selfless acts of helpful neighbors and volunteers,” said SBA Administrator Karen Mills.
“Unfortunately, we have also seen in the past individuals who attempt to take advantage of people who need assistance. Disaster survivors should be vigilant in protecting their personal assets, particularly in the stressful environment of a disaster recovery.
“The SBA will not tolerate the defrauding of those who have already lost so much in the aftermath of these devastating disasters,” Mills said. “Those who are found taking advantage of disaster victims will be prosecuted to the fullest extent provided by law.”
If you suspect a person is posing as a local or federal agent, or encounter what you believe are fraudulent activities connected with disaster relief operations, contact your local law enforcement officials, phone the toll-free National Disaster Fraud Hotline at 866-720-5721, or send an email to disaster@leo.gov. The phone line is staffed by a live operator 24 hours a day, seven days a week.
To register for federal help after a disaster declaration, visit www.DisasterAssistance.gov, or call FEMA at 800-621-3362 (800-426-7585 for the speech or hearing impaired).
Disaster survivors may also visit one of the local recovery centers to get help with filing for assistance. To get help with the disaster loan application, contact the SBA by email at disastercustomerservice@sba.gov, or by calling 800-659-2955 (800-877-8339 for those with speech or hearing disabilities). Those affected by recent disasters may also file a loan application online by visiting SBA’s secure website at https://disasterloan.sba.gov/ela/.
The SBA makes low-interest, taxpayer-backed disaster loans to homeowners, renters, businesses and non-profit organizations of all sizes. More information about the disaster assistance program is available at www.sba.gov/disasterassistance.
Tags: Karen Mills, U.S. Small Business Administration
Posted in NH Business Matters | Comments Off on Disaster Survivors Urged to Beware of Recovery Scams
Wednesday, May 25th, 2011
Smart phone users interested in starting or growing a small business can now find helpful resources at their fingertips via a new SBA mobile application from the U.S. Small Business Administration.
 “Increasingly, smart phones are the vehicle through which Americans access information. This is certainly true of many entrepreneurs and small business owners and this new application ensures they will have access to SBA’s resources and programs – literally at their fingertips,” said SBA Administrator Karen G. Mills. “Greater mobility fits with the new user-focused SBA.gov launched recently, and is another example of the steps we are taking to do a better job of connecting entrepreneurs and small business owners with the tools to help them start or grow their businesses and create jobs.”
Developed and donated as a gift by Palo Alto Software, Inc., the SBA mobile app will make the search for extensive resources more efficient, whether users are starting a new business or taking an existing business to a new level. The app will first be available for the Apple iPhone®, with future versions for other smart phone platforms.
“Palo Alto Software’s mission is to help small businesses succeed. We’ve developed this mobile application for the SBA because we understand the importance of having the right tools and resources when starting or growing a business,” said Sabrina Parsons, CEO of Palo Alto Software. “Ideas can strike entrepreneurs at any moment, and having useful resources available through mobile devices could be the impetus that begins the next big company.”
The mobile app will help users connect with SBA district office staff and SBA-affiliated counselors and mentors who can provide free, personalized small business assistance. The user-friendly format of the app will help answer questions such as: How do I start a business? Where can I go in my area to get free help with writing a business plan? And where do I begin finding funding for my business?
The SBA mobile app also features a built-in startup cost calculator to help estimate the costs associated with getting a business off the ground, plus an SBA partner locator to help users find SBA offices, Small Business Development Centers, Women’s Business Centers and SCORE.
Users will also have mobile access to SBA video content and social media alerts to provide them with tips on the go. This will include live updates from the SBA’s YouTube channel and from SBA’s Twitter feeds. The free mobile app can be downloaded from the SBA’s website at www.sba.gov/content/sba-mobile-app.
Tags: AppleiPhone, Karen Mills, Palo Alto Software Inc., Sabrina Parsons, SCORE, Small Business Development Center, U.S. Small Business Administration, Women's Business Center, YouTube
Posted in NH Business Matters | Comments Off on SBA Introduces New Mobile Application for Entrepreneurs
Tuesday, May 3rd, 2011
On Monday May 9th at the Nashua Technology Park from 8:30 a.m. to 4:00 p.m. there will be a Business to Business Matchmaker that will bring together over 150 small business owners with procurement representatives from more than 25 federal agencies and private prime contractors.
 Last year, hundreds of New Hampshire small businesses were awarded over $438 million in contracts by federal agencies. This number grows significantly when you consider all of the awards made to small businesses as subcontractors to private prime contractors. Small business owners throughout New Hampshire have discovered that adding the federal government to their customer list can be a smart business decision.
Rachael Roderick, Business Development Specialist at the NH district office of the U.S. Small Business Administration, one of several co-sponsors of the event commented, “This is a great opportunity for NH companies to meet directly with several of these organizations to have that initial meeting that can sometimes takes weeks to set up individually. It is a great way to find out where the opportunities exist for each individually company and who they should follow up with in the future.”
On May 9th, the majority of the day will be filled with time for small businesses to meet one-on-one with representatives these agencies and prime contractor to explore if their company has a market to pursue future contracting opportunities. A basic government contracting training session will be available in the afternoon for those new to the subject. This one hour session is designed to demystify the federal procurement process and alert business owners to the one-to-one business support available through the New Hampshire Division of Economic Development’s Procurement Technical Assistance Program, the SBA and its resource partners.
Online pre-registration is required and available now at www.nhsbdc.org with a fee of $25.00.
Small businesses that register for the event will be provided a list of the confirmed exhibitors before the event to help them tailor their presentations and target specific agencies or contractors they wish to meet.
Tags: Nashua Technology Park, NH Division of Economic Development, NH Procurement Technical Assistance Program, Rachael Roderick, U.S. Small Business Administration
Posted in NH Business Matters | Comments Off on Small Business Matchmaker Scheduled for Nashua
Thursday, April 7th, 2011
Small businesses seeking to grow their businesses and create jobs through exporting can turn to new, free educational videos created through a partnership between the U.S. Small Business Administration, Inc. Magazine and AT&T.
 Through the public-private partnership, a series of video modules has been developed to inspire and encourage American small businesses to actively pursue exporting and to educate them on how to do so.
“Winning the future means supporting small businesses that want to grow and create jobs through exporting,” said SBA Administrator Karen Mills. “SBA is very pleased to have partnered with Inc. Magazine and AT&T in the production and distribution of this video series, which will help small firms that are new to exporting or looking for new markets to sell their goods and services.”
The video series, Take Your Business Global, features five main topics that guide small businesses through the process of exporting: Getting Started in Exporting; Planning for Export success; Connecting with Foreign Buyers; Financing; and five Case Studies of successful small business exporters.
The videos begin with answers to the frequently asked question, Why Export? They feature SBA Deputy Administrator Marie Johns; U.S. Secretary of Commerce Gary Locke; U.S. Trade Representative, Ambassador Ron Kirk, and a variety of small business exporters. Other modules feature exporting experts discussing “how-to” take your business global. The videos are posted at www.inc.com/exporting.
“Inc. is proud to work alongside the Small Business Administration and AT&T to provide entrepreneurs with a valuable resource in their efforts to expand their businesses overseas,” said Bob LaPointe, Inc. President. “This video series will educate business owners about what to expect when they launch an international business. “We have put together experienced small business exporters as well as officials from local and national resources to provide a complete picture. Inc. is always happy to help small businesses grow.”
“AT&T is excited to be part of this initiative and to collaborate with the SBA and Inc. magazine,” said Cathy Martine, AT&T Executive Vice President, Small Business Solutions. “We believe U.S. small businesses are engines of innovation, and strongly encourage them to grow by thinking globally and taking advantage of technology. With the emergence of online commerce and digital communications, the potential to export products and services around the world has never been greater.”
Funding for this project was jointly provided by Inc. Magazine and AT&T. Also, Inc. Magazine created the site to host the videos; both firms will distribute DVD copies of the videos and related materials approved by SBA and promote the series in online and print advertising.
The joint program will be launched April 8, at the Cosmopolitan Hotel in Las Vegas, at the Inc. conference GROWCO, an event targeting growing small businesses.
The co-sponsorship agreements will remain in effect through August 31, 2012.
Tags: AT&T, Bob LaPointe, Cathy Martine, Cosmopolitan Hotel, Gary Locke, Inc. Magazine, Karen Mills, Marie Johns, Ron Kirk, U.S. Small Business Administration
Posted in NH Business Matters | Comments Off on SBA, Inc. Magazine and AT&T Join Forces to Promote Exporting by U.S. Small Businesses
Thursday, February 24th, 2011
In FY 2010 New Hampshire small businesses were awarded over $438 million in contracts by federal agencies, state agencies and as subcontractors to prime contractors. These contracts represent awards to hundreds of small businesses in New Hampshire, who have often worked with the U.S. Small Business Administration (SBA) and the NH Division of Economic Development’s Procurement Technical Assistance Program (NH PTAP) to realize increasing success and profits.
 As more small business have entered the arena of selling their goods or services to government agencies or prime contractors, a common thread has emerged with successful companies. The businesses that understand how the process works and how regulatory requirements can be met, are the same businesses who receive contracts in the government contracting marketplace.
On Wednesday March 9, 2011, in Manchester and Thursday March 17th in Keene, representatives from the U.S. Small Business Administration (SBA), the NH Procurement Technical Assistance Program (PTAP), and SCORE will host a roundtable discussion with area businesses who want to learn more about the process of selling product and services to federal government agencies and their large business prime contractors. Business owners will also receive an introduction to the resources and services provided by the SBA, NH PTAP and SCORE to assist them if they decide to pursue government contracting with their companies.
Wednesday March 9, 2011 from 1:00 p.m. to 3:00 p.m.
The Greater Manchester Chamber of Commerce, 54 Hanover Street, Manchester, NH
or
Thursday March 17, 2011 from 1:00 p.m. to 3:00 p.m.
The Hannah Grimes Center, 25 Roxbury Street, Keene, NH
Each session is free of charge, but attendance is limited and pre-registration is required.
Please contact Rachael Roderick at (603) 225-1603 or Rachael.roderick@sba.gov for additional information or to register.
Tags: Greater Manchester Chamber of Commerce, Hannah Grimes Center, NH Division of Economic Development, NH Procurement Technical Assistance Program, Rachael Roderick, SCORE, U.S. Small Business Administration
Posted in NH Business Matters | Comments Off on Exploring Government Contracting Subject of Small Business Roundtables
Thursday, February 17th, 2011
Small businesses facing maturity of commercial mortgages or balloon payments before Dec. 31, 2012, may be able to refinance their mortgage debt with a 504 loan from the U.S. Small Business Administration under a new, temporary program announced today.
 The new refinancing loan is structured like SBA’s traditional 504, with borrowers committing at least 10 percent equity and working with third-party lending institutions and SBA-approved Certified Development Companies in the standard 50 percent/40 percent split. A key feature of the new program is that it does not require an expansion of the business in order to qualify.
SBA will begin accepting refinancing applications on Feb. 28. The program, authorized under the Small Business Jobs Act, will be in effect through Sept. 27, 2012.
“The economic downturn of recent years and the declining value of real estate have had a significant, negative impact on many small businesses with mortgages maturing within the next few years,” said SBA Administrator Karen Mills. “As a result, even small businesses that are performing well and making their payments on time could face foreclosure because of the difficulties they face in refinancing and restructuring their mortgage debt. This temporary program is another tool SBA can provide to help these small businesses remain viable and protect jobs.”
The SBA initially will open the program to businesses with immediate need due to impending balloon payments before Dec. 31, 2012. SBA will revisit the program later and may open it to businesses with balloon payments due after that date or those that can demonstrate strong need in other ways.
“We are making this initial restriction to make sure our funding goes first to small businesses with the most need,” said Steve Smits, SBA Associate Administrator of Capital Access.
Borrowers will be able to refinance up to 90 percent of the current appraised property value or 100 percent of the outstanding mortgage, whichever is lower, plus eligible refinancing costs. Loan proceeds may not be used for other business expenses. Existing 504 projects and government-guaranteed loans are not eligible to be refinanced.
Congress authorized SBA to approve up to $15 billion in loans under this program ($7.5 billion in both fiscal 2011 and 2012). Together with the first mortgage, this temporary program will provide up to $33.8 billion of total project financing. Additional fees charged to the borrower will cover the cost of this refinancing program and as a result no subsidy will be needed. The program is expected to benefit as many as 20,000 businesses.
SBA’s traditional 504 loan program is a long-term financing tool, designed to encourage economic development within a community. A 504 loan provides small businesses with long-term, fixed-rate financing to acquire major fixed assets for expansion or modernization.
Typically, a 504 project includes three elements: a loan (or first mortgage) secured with a senior lien from a private-sector lender covering up to 50 percent of the project cost, a second mortgage secured with a junior lien from an SBA Certified Development Company (backed by a 100 percent SBA-guaranteed debenture) covering up to 40 percent of the cost, and a contribution of at least 10 percent equity from the small business borrower.
Tags: Congress, Karen Mills, SBA, Steve Smits, U.S. Small Business Administration
Posted in NH Business Matters | Comments Off on SBA Launches Temporary Program for Commercial Real Estate Refinancing
|
