Can the government foster entrepreneurship and help create new jobs on a cost efficient basis? The answer is yes. There is at least one organization that receives US government funding, which has a great track record of helping entrepreneurs and small businesses succeed. That organization is the SCORE Association which has just turned 50 years…
SCORE: Small Business Mentoring
Fit Small Business recently had a chance to interview Ken Yancey, the CEO of SCORE. SCORE is primarily known as a non-profit organization that provides free business mentoring, to entrepreneurs, small business owners, and those interested in starting a small business. Mentoring is always provided by an experienced business person who volunteers their time to…
Accion: Where To Borrow $10,000 For Your Business
There are many business which are profitable and want to expand, but are too small to interest most banks and lending institutions. Many small businesses need only a few thousand dollars to greatly accelerate their growth. A loan of $10,000 could enable a small business to cover the deposit for a larger space, expand their…
Small Business Loans (cartoon)
Recently, I interviewed a c-level executive from a bank which provides loans to small businesses. This bank specializes in 7A SbA Loans where the US government picks up between 50 – 85% of the losses, in the event that the borrower defaults. Even with government backing, this executive said that the bank had to be…
Interview with Acting SBA Regional Administrator: BJ Paprocki
We recently had an opportunity to talk with BJ Paprocki of the Small Business Administration (SBA). Mr. Paprocki has been with the SBA for 26 years. Most recently he has been serving as Acting Regional Administrator for Region II, which encompasses New York, New Jersey, Puerto Rico and the US Virgin Islands. The SBA focuses…
SBA Form 4 – How To Fill It Out And Where To Download
***Note: SBA Form 4 and Schedule 4a are no longer in use. The primary application form for an SBA loan is now Form 1919 – Borrower Information Form.*** SBA Form 4 “Application for Business Loan” is the backbone of SBA loans, and covers a wide range of areas. This form personal and business information, and…
Live Oak Bank: Straight Answers On SBA Loans
Who is Live Oak Bank? I had never heard their name until I looked at the list of top SBA 7A loan providers. They consistently are one of the largest providers of SBA 7a loans in terms of both numbers of loans and $ amount of loans. In the most recent report by the SBA,…
