Specialty Programs

WASHINGTON - The US Department of Agriculture announced the launch of two new private funds, known as Rural Business Investment Companies (RBICs), which make equity investments in rural businesses, helping them grow and create jobs. This announcement is part of USDA's ongoing efforts to help attract private sector capital to investment opportunities in rural America to help drive more economic growth in rural communities.

Continue reading

NEW YORK
The U.S. Small Business Administration announced today that it will open Disaster Loan Outreach Centers (DLOC) in West Seneca on Wednesday, Jan. 7, 2015, and in Attica on Wednesday, Jan. 14, 2015. The location of the DLOCs will make it convenient for those affected by the severe winter storm that occurred Nov. 19 – 26, 2014 to apply for disaster loan assistance.

The declaration covers Erie County and the adjacent counties of Cattaraugus, Chautauqua, Genesee, Niagara, and Wyoming in New York.

CALIFORNIA

Low-interest federal disaster loans are available to California residents and business owners affected by the severe storms and flooding that occurred December 11‑12, 2014, U. S. Small Business Administration (SBA) Administrator Maria Contreras-Sweet announced today. SBA acted under its own authority to declare a disaster in response to a request SBA received from Gov. Edmund G. Brown Jr.’s designated representative, Mark S. Ghilarducci, Director of the Governor’s Office of Emergency Services, on December 24.

The disaster declaration makes SBA assistance available in San Mateo County and in the neighboring counties of Alameda, San Francisco, Santa Clara and Santa Cruz.

“Low-interest federal disaster loans are available to homeowners, renters, businesses of all sizes and private nonprofit organizations whose property was damaged or destroyed by this disaster,” said SBA’s San Francisco District Director Mark Quinn. “Beginning Monday, January 5, SBA representatives will be on hand at the following Disaster Loan Outreach Center to answer questions about SBA’s disaster loan program, explain the application process and help each individual complete their application,” Quinn continued.

ARKANSAS

Small, nonfarm businesses in the Arkansas counties of Crittenden, Cross, Lee, Monroe, Saint Francis and Woodruff are now eligible to apply for low‑interest federal disaster loans from the U. S. Small Business Administration (SBA). These loans offset economic losses because of reduced revenues caused by the hail in Saint Francis County that occurred October 2, 2014, announced Tanya N. Garfield, Director of SBA’s Disaster Field Operations Center ‑ West.

IOWA & NEBRASKA

Small, nonfarm businesses in five Iowa counties and neighboring counties in Nebraska are now eligible to apply for low‑interest federal disaster loans from the U. S. Small Business Administration (SBA). These loans offset economic losses because of reduced revenues caused by the freeze in the following primary county that occurred on May 16, 2014, announced Tanya N. Garfield, Director of SBA’s Disaster Field Operations Center - West.

Primary Iowa County: Harrison;
Neighboring Iowa counties: Crawford, Monona, Pottawattamie and Shelby;
Neighboring Nebraska counties: Burt and Washington.

“SBA eligibility covers both the economic impacts on businesses dependent on farmers and ranchers that have suffered agricultural production losses caused by the disaster and businesses directly impacted by the disaster,” Garfield said.

Small, nonfarm businesses, small agricultural cooperatives, small businesses engaged in aquaculture and most private nonprofit organizations of any size may qualify for Economic Injury Disaster Loans (EIDLs) of up to $2 million to help meet financial obligations and operating expenses which could have been met had the disaster not occurred.

“Eligibility for these loans is based on the financial impact of the disaster only and not on any actual property damage. These loans have an interest rate of 4 percent for businesses and 2.625 percent for private nonprofit organizations, a maximum term of 30 years, and are available to small businesses and most private nonprofits without the financial ability to offset the adverse impact without hardship,” Garfield said.

By law, SBA makes EIDLs available when the U. S. Secretary of Agriculture designates an agricultural disaster. Secretary Tom Vilsack declared this disaster on December 24, 2014.

Businesses primarily engaged in farming or ranching are not eligible for SBA disaster assistance. Agricultural enterprises should contact the Farm Services Agency (FSA) about the U. S. Department of Agriculture (USDA) assistance made available by the Secretary’s declaration.

Applicants may apply online using the Electronic Loan Application (ELA) via SBA’s secure Web site at https://disasterloan.sba.gov/ela.

 

 

WASHINGTON – The U.S. Small Business Administration announced today its support for entrepreneurial ecosystem development in eight communities through “ScaleUp America.”  This new initiative is designed to provide the necessary support to help companies scale up and grow, while strengthening and enhancing local entrepreneurial ecosystems around the specific needs of growth-oriented entrepreneurs and firms resulting in their ability to produce measurable economic impact and job growth in local communities.

“Today the SBA is announcing funding support for eight communities that will help scalable small firms grow and create jobs,” said SBA Administrator Maria Contreras-Sweet.  “Ninety-two percent of new jobs come from the expansion of existing businesses.  We are bringing our successful entrepreneurship education programs to underserved communities, bridging the gaps for those in greatest need across the country. This intensive SBA support will create jobs and support a diverse cross-section of communities across our great nation.”

The eight ScaleUp awardees were selected from more than 60 applicants to participate in the inaugural group of communities represent a wide range of diverse geographic areas and organizations.  From urban to rural, the applicants focused on filling the gap in services for growth-oriented small businesses with average annual revenue of $150,000 to $500,000.

SBA’s funding will be provided to each ScaleUp community’s organizing entity to strengthen opportunities for small businesses within the community.  The funds will be used to deliver a proven entrepreneurship education curriculum for growth-oriented entrepreneurs and small businesses; provide on-going one-on-one support, mentoring and technical assistance; assistance and connections to growth capital; and opportunities to build and strengthen connections and networks in their community.

The ScaleUp America communities include:

StartUp Tucson, Community of focus:  Tucson, Ariz.

StartUp Tucson, a nonprofit organization, has developed entrepreneurship ecosystem through an IDEA to IMPACT strategy – a strategy that received recognition by Entrepreneur Magazine. And now, with the assistance of SBA, StartUp Tucson and several key partners will provide assistance to four cohorts of growth-oriented companies that have developed market traction, but face challenges that are distinct from the entrepreneurs at the startup-stage.

University of North Florida, Community of focus: Jacksonville Metropolitan Statistical Area (MSA), Fla.

The five-county region of Jacksonville MSA has been nationally recognized as a small business climate conducive to start-ups and second-stage companies, yet recently has experienced a loss in establishment, sales and job growth for the self-employed and Stage 1 companies.  ScaleUp North Florida will specifically seek to assist these companies through an entrepreneurship education curriculum tailored for this community, management assistance and support based on an in-depth assessment of each business’ needs, access to capital for identified graduates and opportunities to build and strengthen networks.

University of Missouri - Kansas City, Community of focus: Kansas City

Two cohorts of small businesses participating in the ScaleUp Kansas City, led by University of Missouri – Kansas City’s Innovation Center, will commence their program with the FastTrac® Listening to Your BusinessTM and FastTrac® Growth Venture™ entrepreneurship curriculum. Supplementing the curriculum, businesses will develop their growth plans through one-on-one consulting and training, experienced business mentors, workshops on energy and environmental assistance, government contracting and international trade, and will all complete a financial assessment in order to discover ways of funding their particular growth strategies.

Women’s Business Development Center, Community of focus: Aurora, Ill.

Through the ScaleUp Aurora program, the national Women’s Business Development Center (WBDC), headquartered in Chicago, Ill., will fill a gap in Aurora as the city lacks an economic development center focused on accelerating the growth of small businesses and providing access to capital. The program will use the Plan for Profit 12-week program followed with individual counseling, mentors, networking events, connection to resources – both connections and streams of capital.

Your Management Team, Inc., Community of focus:  Central Ohio

Your Management Team, Inc. will fill the gap in the entrepreneurial ecosystem of Central Ohio by targeting established small but growing main street businesses.  Each business participating in the program will develop a strategic plan shaped by their experiences in the program completing the Kauffman Foundation’sGrowthVenture™, leadership and management workshops, marketing and sales workshops and quarterly financial reviews by certified public accountants.

Supply Chain Visions LLC, Community of focus:  Roanoke, Va.

With nearly 3000 growth-oriented small businesses with annual revenues in the $150,000 to $500,000 range, Roanoke, Va. will be an ideal community for the inaugural class of ScaleUp America.  Supply Chain Visions LLC will provide the training curriculum of the Institute for Entrepreneurial Leadership/Workshop in Business Opportunity’s (WIBO) sixteen module, intensive program, a peer-to-peer learning, workshops focused on access to capital, and business networking needed to further develop a cohesive business to business environment, particularly for underserved populations.

Supply Chain Visions LLC, Community of focus:  Greater Portland, Maine

Members in the entrepreneurial ecosystem of Portland, Maine articulate a strong community and assistance for the start-up community, but identify gaps in the support network for later stage, growth-oriented companies. Supply Chain Visions LLC and their committee of the University of

Southern Maine, Gorham Savings Bank, Maine Center for Entrepreneurial Development, Blackstone Accelerates Growth (BxG), The Regional Chamber of Commerce and SBA resources partners will help fill those gaps with their ScaleUp program.

Advantage West Economic Development Group, Community of focus:  Western North Carolina

ScaleUp Western North Carolina will provide intensive business scale up assistance and leadership development to two cohorts of Western North Carolina small businesses with strong potential for growth and job creation each year.  The program, led by the Advantage West Economic Development Group, will also fulfill gaps in the entrepreneurial ecosystem identified in their regional Comprehensive Economic Development Strategy (CEDS) plans, and will extend a proven training curriculum to rural, underserved and underrepresented small business communities.  In addition to offering a robust program to the small businesses, Advantage West will improve the ecosystem by hosting a series of regional outreach meetings to engage community partners from across the 23-county Western North Carolina region.

SACRAMENTO, CA-Low-interest federal disaster loans are now available to certain private, nonprofit organizations (PNPs) in California, following President Obama’s federal disaster declaration for Public Assistance as a result of an earthquake during the period of August 24 – September 7, 2014, announced Maria Contreras-Sweet, Administrator of the U.S. Small Business Administration (SBA). PNPs that provide essential services of a governmental nature are eligible for assistance.

SBA disaster assistance is now available in the counties of Napa and Solano.

“PNP organizations should contact Peter Crase with the California Emergency Management Agency at (916) 845-8203 to obtain information about applicant briefings,” said Tanya N. Garfield, Director of SBA’s Disaster Field Operations Center-West.  “At the briefings, PNP representatives will need to provide information about their organization,” continued Garfield.  FEMA will use that information to determine if the PNP provides an “essential governmental service” and is a “critical facility” as defined by law.  If so, FEMA may provide the PNP with a Public Assistance grant for their eligible costs.  If not, FEMA may refer the PNP to SBA for disaster loan assistance.

SBA may lend PNPs up to $2 million to repair or replace damaged or destroyed real estate, machinery and equipment, inventory, and other business assets.  SBA can also lend additional funds to help with the cost of making improvements that protect, prevent or minimize the same type of disaster damage from occurring in the future.

For certain private, nonprofit organizations of any size, SBA offers Economic Injury Disaster Loans (EIDLs) to help meet working capital needs caused by the disaster.  EIDLs may be used to pay fixed debts, payroll, accounts payable and other bills that cannot be paid because of the disaster’s impact.  EIDL assistance is available regardless of whether the nonprofit suffered any property damage.

The interest rate is 2.625% with terms up to 30 years.  The filing deadline to return applications for property damage is November 10, 2014.  The deadline to return economic injury applications is June 11, 2015.

SACRAMENTO, Calif. – Low-interest federal disaster loans are now available to certain private, nonprofit organizations (PNPs) in Washington, following President Obama’s federal disaster declaration for Public Assistance (PA) as a result of the wildfires that occurred July 9 – August 5, 2014, announced Maria Contreras-Sweet, Administrator of the U.S. Small Business Administration (SBA). PNPs that provide essential services of a governmental nature are eligible for assistance.

SBA disaster assistance is now available in the county of Okanogan and the Confederated Tribes of Colville Reservation.

“PNP organizations should contact Gary Urbas with the Washington State Public Assistance program at (253) 512-7402 to obtain information about local briefings.  At the briefings, PNP representatives will need to provide information about their organization,” said Tanya N. Garfield, Director of SBA’s Disaster Field Operations Center-West.  FEMA will use that information to determine if the PNP provides an “essential governmental service” and is a “critical facility” as defined by law.  If so, FEMA may provide the PNP with a Public Assistance grant for their eligible costs.  If not, FEMA may refer the PNP to SBA for disaster loan assistance.

SBA may lend PNPs up to $2 million to repair or replace damaged or destroyed real estate, machinery and equipment, inventory, and other business assets.  SBA can also lend additional funds to help with the cost of making improvements that protect, prevent or minimize the same type of disaster damage from occurring in the future.

For certain private, nonprofit organizations of any size, SBA offers Economic Injury Disaster Loans (EIDLs) to help meet working capital needs caused by the disaster.  EIDLs may be used to pay fixed debts, payroll, accounts payable and other bills that cannot be paid because of the disaster’s impact.  EIDL assistance is available regardless of whether the nonprofit suffered any property damage.

The interest rate is 2.625 percent with terms up to 30 years.  The filing deadline to return applications for property damage is October 10, 2014.  The deadline to return economic injury applications is May 11, 2015.

Applicants may apply online using the Electronic Loan Application (ELA) via SBA’s secure Web site at https://disasterloan.sba.gov/ela.

Disaster loan information and application forms are also available from SBA’s Customer Service Center by calling (800) 659-2955 or e-mailing disastercustomerservice@sba.gov(link sends e-mail).  Individuals who are deaf or hard‑of‑hearing may call (800) 877-8339.  For more information about SBA’s disaster assistance programs, visit http://www.sba.gov/disaster.

SBA Field Operations Center - West, P.O. Box 419004, Sacramento, CA 95841

DENVER, CO - U.S. Housing and Urban Development (HUD) Secretary Shaun Donovan today announced the State of Colorado will receive an additional $58.2 million to help communities recover from last September's severe storms that produced devastating floods and mudslides. The recovery funds are provided through HUD's Community Development Block Grant - Disaster Recovery (CDBG-DR) Program to support long-term disaster recovery efforts in areas with the greatest extent of 'unmet need', primarily in Boulder, Weld and Larimer Counties.

HUD previously allocated $262.1 million to assist recovery efforts in Colorado. The funds announced today bring HUD’s total CDBG-DR investment to $320 million.

Grantee

Grant Announced Today

Previous Grants

Total

Colorado

$58,246,000

$262,100,000

$320,346,000

"After visiting Lyons and Evans last year, I promised HUD would remain committed to making sure the state has the resources they need to recover from unprecedented flooding and mudslides,” said Donovan. "This additional money will fund a local vision to rebuild homes and businesses, repair badly damaged roads and bridges, and spur economic development. HUD will continue working with officials in Colorado to rebuild more resilient and better prepared for future storms."

“It has been almost ten months since the flood struck last fall, and our federal partners have provided extraordinary resources to help our state recover,” said Governor John Hickenlooper. “This third round of funding of CDBG-DR funds will help our communities grow stronger and more resilient as they recover over the long term. Families, businesses and local economies in disaster-impacted communities will never be made whole. But this funding will provide critical support for Colorado’s future.”

"The September 2013 flood and destructive government shutdown left Colorado hobbled. Since then I have been proud to work collaboratively with the U.S. Department Housing and Urban Development to ensure Colorado communities have the resources they need to rebuild and protect Coloradans and businesses from future floods," U.S. Senator Mark Udall said. "This latest allocation is welcome news for Colorado and underscores the critical role HUD has played and will continue to play in helping us to rebuild smarter and stronger."

“We knew we’d have a long road to recovery, and we’re making tremendous progress,” Senator Michael Bennet said. “These resources from HUD are particularly critical because they will us help continue to recover in a variety of ways, from repairing homes and businesses, to restoring local infrastructure, supporting the long term economic recovery of these communities, and mitigating future damage. We’ll continue to work with HUD and other federal agencies along with the state to ensure every community has what it needs to recover during this long process.”

A minimum of 80 percent of the funds awarded will be targeted in Boulder, Weld, and Larimer Counties where approximately 2,800 homes incurred major or severe damage.

The Disaster Relief Appropriations Act of 2013, signed into law by President Obama on January 29th, included $16 billion in CDBG-DR funding. The legislation specifies these funds are to be used "for necessary expenses related to disaster relief, long-term recovery, restoration of infrastructure and housing, and economic revitalization in the most impacted and distressed areas resulting from a major disaster."

HUD’s CDBG-DR grants are intended to confront housing, business and infrastructure needs beyond those addressed by other forms of public and private assistance. Using a combination of data from the Federal Emergency Management Agency (FEMA) and the Small Business Administration (SBA), HUD identified particular counties in Colorado with the greatest extent of damage to housing, businesses and infrastructure.

HUD will shortly publish a Notice that will regulate the use of the funds announced today. The State of Colorado will then finalize disaster 'action plans' describing how it intends to expend these funds to support disaster recovery and HUD will quickly review them.

###

WASHINGTON, DC – U.S. Housing and Urban Development (HUD) Secretary Shaun Donovan today announced the allocation of more than $31 million to the City of Chicago, Cook County, and DuPage County to help these communities recover from devastating storms, strong winds and flooding.  These grants are provided through HUD’s Community Development Block Grant-Disaster Recovery (CDBG-DR) Program to support long-term disaster recovery efforts in areas with the greatest extent of ‘unmet need.’

The City of Chicago will receive $11 million; Cook County will receive $14.8 million; and DuPage County will receive $5.6 million to support local recovery efforts following powerful storms and flooding that occurred from April 16 through May 5 of 2013. To date, HUD has allocated more than $188 million to support long-term disaster recovery in some of Illinois’ hardest-hit communities:

Grantee

Grants Announced Today

Previous Grants

Total

Chicago

$11,075,000

$52,000,000

$63,075,000

Cook County

$14,816,000

$68,800,000

$83,616,000

DuPage County

$5,626,000

$25,900,000

$31,526,000

State of Illinois

$10,400,000

$10,400,000

TOTAL

$31,517,000

$157,100,000

$188,617,000

“Since Illinois was struck by severe storms last year, HUD has worked closely with local officials to ensure they have the resources they need to help the hardest-hit communities recover,” said Donovan.  “HUD will continue working with state and local leaders as they rebuild homes and businesses to be more resilient and better prepared for future storms.”

The Disaster Relief Appropriations Act of 2013, signed into law by President Obama on January 29th, included $16 billion in CDBG-DR funding. The legislation specifies these funds are to be used "for necessary expenses related to disaster relief, long-term recovery, restoration of infrastructure and housing, and economic revitalization in the most impacted and distressed areas resulting from a major disaster."

HUD’s CDBG-DR grants are intended to confront housing, business and infrastructure needs beyond those addressed by other forms of public and private assistance. Using a combination of data from the Federal Emergency Management Agency (FEMA) and the Small Business Administration (SBA), HUD identified particular counties in Colorado with the greatest extent of damage to housing, businesses and infrastructure.

HUD will shortly publish a Notice that will regulate the use of the funds announced today. The grantees will then finalize disaster 'action plans' describing how they intend to expend these funds to support disaster recovery and HUD will quickly review them.