Would $750,000 Help Your Small Business?
Many people think that the Small business Administration, simply by reason of its name, is just for mom and pop kinds of enterprises, or those started by a floundering entrepreneur in a spare bedroom of their home. Not really so. Is an SBA loan of 750000 possible for your business? Why not? ! Just ask the people of the old New England whaling town of New Bedford, Massachusetts. According the community Web site NewBedford360, the New Bedford Economic Development Council ( NBEDC ) latterly secured an SBA loan guarantee of $750,000, made feasible by the North American Recovery and Reinvestment act of 2009, which provided $730 million to the SBA to readdress lending to small companies thru SBA-participating lenders. So an SBA loan of $750,000 is not just possible it has occurred.
U.S. Officeholder Barney Frank, talking of the SBA loan of $750,000, said, This funding for the New Bedford Economic Development Council demonstrates two important points “first, the continued contribution of the stimulus bill to our efforts to get over the recession which President Obama inherited and, 2nd, the sterling work done by Mayor Lang and his industrial team in being able to qualify for these funds.
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