Practical Concepts For Quick Strategies Of Average Business Loans

The total number of approvals in fiscal 2016 is 7,226 and represents a 44 percent increase over 2009 loan approvals of 5,004. Total dollars approved in fiscal 2016 is $3.6 billion and is up 123 percent over fiscal 2009 dollars approved at $1.6 billion. Locally, in New Mexico, SBA has approved 2,479 small business loans since 2009, valued at nearly $900 million.These loans helped create 9,125 jobs and retain 20,487 jobs. As the regional administrator, one of commercial mortgage rates my first goals was to promote and support under-served small business communities, including women, veterans, rural areas, and minorities.I knew that the best way to champion these groups was to work at the grass roots level where I could have the largest impact.Across the South Central region, I participated in countless programs that support our veterans like our Boots-to-Business training events, met with military base officials and leaders of large businesses to promote small business contracting.I also knew that educating the next generation of business leaders was at a critical juncture when I spoke at multiple Emerging Leaders class graduations. My grassroots work meant meeting with more than 100 mayors and economic development officials to determine what they needed from the SBA to save their disappearing main street businesses.What I learned from these meetings was that the SBA must continue to support their work by providing additional access to capital and business training for their established and start-up small businesses. Working with organizations such as local chambers of commerce, womens business organizations, rotary clubs, world trade centers, SBA lenders, other federal and state agenciesand elected officials put me in direct contact with the small businesses that are on the front line of creating jobs and opportunities in their towns and cities.I met some truly amazing entrepreneurs with some remarkable innovations and business ideas. Thank you all for your support. Obama Administration highlights: Since 2009, SBA has guaranteed a record $179 billion in small business loans, more than any other administration in history.Annual lending in SBAs largest program, the Advantage Loan Program (or 7(a)), is up more than 160 percent since the depths of the recession. Last year SBA guaranteed more than 70,000 loansfor a total of $28.9 billionand supported more than 694,000 jobs across the country. These loan programs now operate without any subsidy from the American taxpayer.

http://www.usatoday.com/story/opinion/editorials/2017/01/20/sba-looks-growth-2017/96779174/

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