Information from Philly.com:
"Small-business owners and entrepreneurs who have been rejected for loans because they were deemed too risky could find some help in a meet-and-greet with the Small Business Administration.
The federal agency has scheduled a "Matchmaker Conference" for Wednesday in Camden for lenders and small-business owners. The event and parking are free.
Officials from a dozen banks will be there to interview business owners looking for loans of up to $5 million, said William Boone, assistant district director of the SBA's New Jersey office in Newark.
"There is a lot of misinformation out there about the SBA program," Boone said. "Some people think it's a welfare program or a minority program, and it's not."
The SBA guaranteed-loan program backs loans to small businesses through local banks. Those who obtain loans must show they have the potential to repay the lender, with interest. For loans of $150,000 and less, the SBA guarantees that it will repay 85 percent of the loan if the business owner cannot. For loans or more than $150,000, the SBA repays the bank 75 percent of the loan.
The SBA has a separate "micro-loan" program for those borrowing $50,000 or less, Boone said.
Among the banks that will participate in Wednesday's conference, Boone said, are First Trust Bank, of Philadelphia; 1st Colonial National Bank, of Collingswood; Hopewell Valley Community Bank, of Pennington, N.J.; The Bank, of Woodbury; and the Shore Community Bank, of Toms River.
Business owners who participate should bring their business plan and have available a specific amount of money they would like to borrow, Boone said. He said 75 people attended a similar event in Camden in 2010.
The event will be held 9:30 a.m. to 12:30 p.m. at the Camden County One-Stop Career Center at 2600 Mount Ephraim Ave. Those attending should call the SBA and register at 973-645-6160.
Read more: http://www.philly.com/philly/business/20110321_SBA_event_will_seek_to_link_small_businesses_with_funding.html#ixzz1HEw1g842
Watch sports videos you won't find anywhere else"
Officials from a dozen banks will be there to interview business owners looking for loans of up to $5 million, said William Boone, assistant district director of the SBA's New Jersey office in Newark.
"There is a lot of misinformation out there about the SBA program," Boone said. "Some people think it's a welfare program or a minority program, and it's not."
The SBA guaranteed-loan program backs loans to small businesses through local banks. Those who obtain loans must show they have the potential to repay the lender, with interest. For loans of $150,000 and less, the SBA guarantees that it will repay 85 percent of the loan if the business owner cannot. For loans or more than $150,000, the SBA repays the bank 75 percent of the loan.
The SBA has a separate "micro-loan" program for those borrowing $50,000 or less, Boone said.
Among the banks that will participate in Wednesday's conference, Boone said, are First Trust Bank, of Philadelphia; 1st Colonial National Bank, of Collingswood; Hopewell Valley Community Bank, of Pennington, N.J.; The Bank, of Woodbury; and the Shore Community Bank, of Toms River.
Business owners who participate should bring their business plan and have available a specific amount of money they would like to borrow, Boone said. He said 75 people attended a similar event in Camden in 2010.
The event will be held 9:30 a.m. to 12:30 p.m. at the Camden County One-Stop Career Center at 2600 Mount Ephraim Ave. Those attending should call the SBA and register at 973-645-6160.
Read more: http://www.philly.com/philly/business/20110321_SBA_event_will_seek_to_link_small_businesses_with_funding.html#ixzz1HEw1g842
Watch sports videos you won't find anywhere else"
PLEASE if you are a small business owner you should definitely ATTEND this session!!!
Happy Monday! ;-)
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