Small Business Administration Announces New Changes to Help With Loans

A small business summit was held in PerrysBurg,Ohio, where more than 100 small business owners discussed: How to access money they need to stay in business, and who might buy their products. The summit was hosted by U.S. Rep Bob Latta, R-Bowling Green. Six other presenters from various agencies were there as well.

Two new very important changes regarding small business loans was discussed by Gilbert Goldberg, Cleveland district director of the Small Business Administration.

I. The SBA can now guarantee 90 percent of small business loans of up to $2 million. Previously, the SBA could only guarantee 70 percent.

II. The SBA will also waive fees that are normally charged for loan assistance.

Stay informed and take advantage of the resources the Small Business Administration has to offer. Strategically target one government program to help your small business in today’s time. Focus on this one program to get you in the door. Leverage the experience and approval process to help qualify you for as many programs as possible.

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