Need a small business loan? Try these options

Apr 12, 2013
Need a small business loan? Try these options

Yes, there are still financing opportunities for small businesses – especially for those involved in technology or exporting – even in this climate of national belt-tightening. Here’s a roundup of lending news and events:

SMALL BUSINESS LENDING FUND EXPANDS GENEROSITY
Virginia banks that participate in the U.S. Treasury Department’s Small Business Lending Fund have increased their small business loans by more than $470.9 million, according to an April 3 report. Created in 2010 as part of the Small Business Jobs Act, the SBLF provides capital to community banks and other institutions to encourage small business lending. The SBLF website provides a map of participating lenders, including 12 institutions and 73 locations in Virginia.
Cha-ching!

ANNUAL EVENTS TARGET TECH-ORIENTED FIRMS
A trio of federal conferences aimed at supporting small startups that use innovative technology will meet under the same roof next month in Washington, D.C. The National Small Business Innovation Research Conference, TechConnect World 2013 and the National Innovation Summit and Showcase share space the week of May 12 at the Gaylord National Hotel & Convention Center in National Harbor, Md.

The events will include one-on- one meetings with federal agencies, pre-conference tutorials, roundtables, speakers and other programs. Cha-ching!

SBA HIGHLIGHTS FINANCIAL ASSISTANCE FOR SMALL BUSINESS EXPORTERS
A new program will help small businesses sell their products or services overseas, the U.S Small Business Administration announced April 3 at the 6th Annual Export Lenders’ Roundtable in Washington, D.C. U.S. Global Business Solutions aims to streamline the lending process for small business exporters and the institutions that finance their operations. The program, which will bundle loan packages for exporters, is a partnership between six federal agencies: the SBA, Export- Import Bank, the U.S. Trade Development Agency, Overseas Private Investment Corp. and the departments of agriculture and commerce/international trade administration.

The SBA also named BBCN Bank as the 2013 Export Lender of the Year. The Los Angeles-based institution contributed nearly $13 million in export working capital last year.
Cha-ching!



Finance