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Tag Archives: SBA

There’s a new bank in town

  Sam’s Club offering small business loans to many that banks will not   A small business owner walks into a Sam’s Club, picks up a year’s worth of pens and pencils, a truckload of printer ribbons and a few gallons of ketchup for the break room. But, she could use a little working capital, too. So, on the way out the ...

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No stellar solutions for businesses

Despite availability of SBA loans, many small business owners may be down for the count Despite the offer of loans from the U.S. Small Business Association and small payments from BP, there are no good immediate economic solutions for Gulf Coast business owners who are suffering from revenue losses of more than 60 percent. State Attorney General Jim Hood has ...

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SBA disaster loan approvals top $1M

ACROSS MISSISSIPPI — More than $1 million in U.S. Small Business Administration (SBA) Disaster Assistance Loans have been approved for disaster survivors in Mississippi as a result of damages caused by severe storms, tornadoes and flooding that occurred April 23 – 24. “Currently, 18 disaster loans have been approved in the amount of $1,039,900 for affected survivors,” said Frank Skaggs, ...

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Camgian earns HUBZone designation

STARKVILLE — Camgian Microsystems Corporation has received the U.S. Small Business Administration’s (SBA’s) HUBZone (Historically Underutilized Business Zone) designation. Camgian’s new SBA HUBZone designation will allow it to better serve the contracting requirements and needs within the federal market place. Established in 1997, the purpose of the HUBZone program is to provide federal contracting assistance for qualified small businesses located ...

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SBA proposes higher surety bond guarantees

WASHINGTON — The U.S. Small Business Administration (SBA) has proposed changes, including higher surety bond guarantee limits, that will help construction and service sector firms secure larger contracts for work in areas impacted by disasters. The proposed changes include: • For a non-federal contract or order up to $5 million, a bond guarantee may be issued if the products will ...

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Obama approves extension of loan enhancements

WASHINGTON — President Barack Obama has signed legislation providing $80 million in additional funding to continue enhancements in the U.S. Small Business Administration’s (SBA’s) two key small business loan programs. The enhancements, first made available under the American Recovery and Reinvestment Act, include a higher guarantee on some SBA-backed loans and small business fee relief. The SBA estimates the $80 ...

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SBA loan awards on record pace

ACROSS MISSISSIPPI — The Mississippi District of U. S. Small Business Administration (SBA) reached a milestone in mid-April, having guaranteed 700 loans valued at $130.7 million thus far in fiscal year 2010. “We’re fast approaching another record year in the number and dollar volume of loans guaranteed,” said Mississippi SBA District director Janita R. Stewart. SBA’s current fiscal year began ...

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SBA warns of uptick in loan scams

WASHINGTON — The U.S. Small Business Administration (SBA) is warning small businesses to use caution if they are contacted by firms offering to help them apply for funds available through SBA programs. SBA and SBA’s Office of the Inspector General (SBA OIG) have received several complaints from small businesses about abusive marketing practices, scams and exorbitant fees charged by firms ...

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SBA loan extension becomes law

WASHINGTON — President Barack Obama has signed legislation extending through April the U.S. Small Business Administration’s (SBA’s) ability to provide enhancements in its two largest small business loan programs. The enhancements, first made available under the American Recovery and Reinvestment Act, include a higher guarantee on some SBA-backed loans and fee relief. The SBA estimates the $40 million extension will ...

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Section 8(a) is not a business start-up program

John Calhoun and Rod Hill founded their Jackson-based engineering firm in 1996. The only employees they had back then were themselves. Today, Integrated Management Services (IMS) employs over 200 and maintains offices in Greenville, Memphis, New Orleans and Detroit.  Annually, the company manages construction projects with values that exceed $1 billion. Calhoun gives much of the credit to the firm’s ...

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