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Posted on Mon, 02/13/2012 - 10:04 AM by
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Head of U.S. Small Business Administration, Karen Mills said that she is planning to start a “microlending” program for small business owners in Jacksonville. The program will enable business owners to find loans up-to $50,000 in Jacksonville valley. Karen Mills, recently happened to visit Jacksonville to attend the inaugural Business Builder Summit organized by Mayor Alvin Brown. The summit is organized with the aim to help small businesses grow and hire more workers. The average micro-loan granted to small businesses is $13,000. It is true that this is much less than other Small Business Administration loans that can extend up-to $5 million maximum. But, then, this micro-loan can fill in a niche. Small Business Administration teamed with 178 nonprofit organizations nationwide and is planning to offer micro-loans. In Florida itself, there are several lenders, but none is located specifically in Northeast Florida. Mills expressed her concern for small business owners and said that their biggest need is to find access to smaller loans. Providing loans to small business owners in Jacksonville has not been easy. Wilfredo Gonzales says that it remained tough for a business to find loans as it had to meet the requirement of two years experience and also two years of counseling businesses. Mills arrival to Jacksonville will help to unleash micro-loan program for Jacksonville.
MORE NEWS FROM BIZ2CREDITFirst State Bank Of Nebraska Recognized As Community Lender For 2012The First State Bank of Nebraska has been recognized as the Rural/Community Lender of the year 2012. SBA has recognized the bank for its efforts in Nebraska. State Bank Nebraska has served the community in a number of ways. SRDC Is Offering Loans Through RLFSouthwest Regional Development Commission (SRDC) is offering loans through revolving loan fund (RLF). Its purpose is to have a direct financing tool making loan funds available so as to assist in retail, manufacturing, and distribution businesses. Sound Business Plan is key for Business LoanA solid business plan makes it easy for the business to get access to credit. A solid business plan helps to win customers and it also becomes a strong calling card to secure business loans. Loan Approval Rate Declines Due To Fall in SBA GuaranteeBiz2credit finds overall approval rate of small business loans to increase in April compared to a year earlier. Alternative lenders approved 63% of small-business loans compared to 53.6% a year ago. Approval rate of credit unions is 57.4%, small banks 45.9% and big banks 10.6%. The approval rates are more compared to a year earlier. Minority Business LoanMinority business loan as the term describes is a type of financial help provided to the people of minority background for their business and commercial purposes. Such loans also come in different categories like small business loan, large business loan, loans for men and women. However, the provision of customized loan program is also available as per the specific requirement of a customer or a minority business owner. Likewise, government organizations are also assisting minority businesses and playing a vital role for their business growth including the lower income group. These government bodies not only meet the financial requirements but also socially fortify the financial backward divisions. Besides, women minority business owners are also unrestricted to get the benefit of these loans. In fact certain non-profit organizations are also proactively participating in minority business loan programs with the purpose of advancement of these minority groups. RELATED SMALL BUSINESS NEWSWhy There's Not Much Sizzle In Two Burger Chains' IPO PlansCan two also-ran burger chains that struggled through the recession win over Wall Street investors? We'll soon find out, as fast-food franchisor CKE Restaurants -- corporate parent of both Carl's Jr. and Hardee's -- recently filed to go public, seeking roughly $100 million and applying for the stock... No room for weeniesNo use complaining Keep up won’t you? There’s no room for weenies in the global micro enterprise community. My hapless and hopeless UK agent, Tony Robinson OBE, sent me a press clipping of what Serena Williams said after winning the Madrid Open last week. He’s obsessed by how Ser... Day 2: National Small Business Week - Corinne’s Catfish Tells Us Why They Love ItFor today’s post, we spoke with Orin Moore, owner and founder of Corinne’s Catfish in Lewisville, Texas. The On Deck Team found this story particularly inspiring – and we hope our readers to do. Creating Google Alerts Directly in Google AnalyticsA few weeks back I wrote about the powerful new metrics that small business owners can glean from the new Social reports within Google Analytics. And since that post, even more neat features have been released to help business owners learn more about not only what’s happening on their site, but what’s happening off of it, as well. How Ads on Your Site Can Affect SEO (Video)Your search rankings could be suffering if there are a number of advertisements above the content on your website. ... |
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This article was submitted by Raj Tulshan, Director of Business Development of Biz2Credit. Biz2Credit is a small business marketplace that connects entrepreneurs with financing options and advice to grow their business. Send all questions to info@biz2credit.com