Biz Headlines

Program extension leads to $1.8 billion in small business lending

Monday, 08 March 2010 11:09

The U.S. Small Business Administration's ability to provide small business loans that are enhanced with special provisions of the American Recovery and Reinvestment Act (ARRA), including a higher guarantee of SBA-backed loans and a waiver of loan fees normally paid by borrowers, was extended last week until March 28.

President Barack Obama signed legislation last Tuesday extending the funding, which SBA estimates will support about $1.8 billion in small business lending.

New approvals of eligible loans with the higher guarantee and reduced fees made possible by the Recovery Act are expected to resume on March 10. Loan applications from borrowers in SBA’s Recovery Loan Queue will be funded first, followed by new loan applications.

Wednesday, 24 February 2010 16:45

SLO Works, a subsidized employment program established by the San Luis Obispo County's Department of Social Services (DSS), will subsidize the cost of hiring and training employees for a period of up to six months.

Employers will be able to submit subsidized employee costs to DSS, and 100% of the wages paid to the employee can be reimbursed to the employer.

In collaboration with DSS's community partners and the local Business and Career One Stop Centers, the SLO Works benefits to employers and employees alike are abundant.

Feb. 19, 2010 --

The nation’s top entrepreneurs will be honored at the U.S. Small Business Administration’s National Small Business Week events to be held May 23-25, in Washington, D.C. A series of events and educational forums will mark the 57th anniversary of the agency and the 47th annual proclamation of National Small Business Week.

More than 100 outstanding small business owners from across the country will receive awards while gathering for three days at the city’s Mandarin Oriental Hotel. They will meet with top agency officials, congressional representatives and national business leaders. The highlight of the celebration will be the announcement of the National Small Business Person of the Year.