The U.S. Small Business Administration is seeking public comments on a proposed rule that would revise the small business size standards for businesses in five North American Industrial Classification System (NAICS) sectors to increase small business eligibility for SBA’s loan and contracting programs. Comments can be submitted on this proposed rule on or before Jan. 26, 2021 at: www.regulations.gov [...]
The Small Business Administration (SBA) 504 Loan Program completed its largest monthly funding of loans in the program's 34-year history, including 1,462 loans for $1,284,274,000 – more than double the previous record set in September 2012. Historic levels of 504 loan closings and fundings were driven by record low interest rates and debt relief provided by [...]
There are many benefits for small businesses to apply for an (SBA) 504 loan such as lower down payment deposits on the loan, higher credit limits, competitive interest rates and many others that a small business otherwise would not be able to get through a traditional loan process. This is made possible because the SBA [...]
On Wednesday, September 16th, the Small Business Administration (SBA) 504 Loan Program completed its largest monthly funding of loans in the program’s 34-year history, including 1,462 loans for $1,284,274,000. This amount is more than double the previous record set in September 2012. Historic levels of SBA 504 loan closings and fundings were driven by unprecedented [...]
Tanya Garfield, Director of the U.S. Small Business Administration’s (SBA) Field Operations Center-West announced today that low-interest federal disaster loans are now available to San Diego County small businesses impacted by the civil unrest that began May 26, 2020. SBA acted under its own authority to amend its July 7 declaration following a request received [...]
Private sector small business employment increased by 937,000 jobs from May to June according to the June ADP Small Business Report. Due to the important contribution that small businesses make to economic growth, employment data that are specific to businesses with 49 or fewer employees is reported each month and broadly distributed to the public, [...]
By BFC Funding Accounting for upwards of 90% of the US economy, it is no stretch to say that the health of small businesses is vitally important to how well we recover as a nation from the financial crisis caused by the COVID-19 pandemic. Seems each day we increase in our understanding of what options [...]
It shouldn’t come as a surprise that SBA 504 loans are a hot commodity these days. With the recent introduction of the SBA’s Economic Injury Disaster Loan program and the Paycheck Protection Program, it seems there are (at this moment) a variety of options for business owners to choose from to obtain small business loans. [...]
A discussion about the Paycheck Protection Program (PPP) from an SBA Lender’s Perspective. Stephanie Chung Business Development Officer at Business Finance Capital D: 925.900.3344 E: stephanie@bfcfunding.com 1. The PPP experience has been a challenge from the perspective of a borrower, but what has the experience been like on the lending side? How has your [...]
Links & Resources for Businesses impacted by COVID-19 Presented by Business Finance Capital As we continue to forge ahead during this crisis, please refer to the following links and resources for additional information. Also, please feel free to contact us here at BFC as needed. Call: 1-800-SBA-REAL Updated 4/7/2020 SBA 504 LOAN RELIEF INFORMATION: [...]
