SBA announces two new modules to Money Smart for Small Business program

SBA announces two new modules to Money Smart for Small Business program

Harvest Business Advisors works with Small Business Administration (SBA) lenders for many of our transactions. Our entire team keeps up-to-date on all SBA programs and announcements to better serve our business brokerage clients and our business valuation clients.

We’d like to share this recent announcement from the SBA about addition of two new modules to their “ Money Smart for Small Business ” curriculum. The two new modules are Banking Services and Building Strong Credit.

“Money Smart for Small Business aims to help small business owners and entrepreneurs understand how a strong banking relationship can help them achieve their vision,” said Elizabeth Ortiz, Deputy Director for FDIC’s Consumer and Community Affairs.  “The relationship between banks and small businesses is symbiotic: when one succeeds, so does the other.”

For the complete announcement from the Small business Administration, please visit https://www.sba.gov/about-sba/sba-newsroom/press-releases-media-advisories/sba-and-fdic-updates-money-smart-small-business-credit-and-banking-modules

To learn more about the Money Smart for Small Business program, please visit www.fdic.gov/smallbusiness.

If you have any questions or need more information about SBA lending practices and requirements or a business valuation for a SBA loan, feel free to connect with us for a conversation.

 


Clients choose Harvest Business Advisors for our sage advice on profitably growing their business, accurate business valuations, and when the time is right, a consistent ability to deliver a high price as part of a smooth exit transaction.

Harvest Business Advisors provides business brokerage, business valuation, and business succession planning services. We have extensive experience in the information technology and professional services, manufacturing, distribution, and contracting fields. We maintain offices in Maryland, New Jersey and Virginia. Connect with us at info@harvestbusiness.com or 877-838-4966 to discuss selling your business, ordering a business valuation or buying a business.

Small Business Administration: Updates and Announcements about SBA Loans

Small Business Administration: Updates and Announcements about SBA Loans

Harvest Business Advisors works with Small Business Administration (SBA) lenders for many of our transactions. Our entire team keeps up to date on all SBA announcements and Standards of Practice changes to better serve our business brokerage clients and our business valuation clients.

We’d like to share this Lender and Development Company Loan Programs announcement from the SBA:

This SOP contains the SBA’s eligibility requirements for lenders and CDCs and the policies and procedures governing the CDC/504 and 7(a) loan programs.

Subpart A

This subpart contains the requirements for lenders and Certified Development Companies (CDCs) to participate in SBA lending programs. This subpart also explains the different levels of delegated status SBA grants to lenders and CDCs, as well as how lenders and CDCs maintain their participating status with SBA. Finally, this subpart gives a brief overview of how SBA oversees its participating lenders and CDCs.

Subpart B

This subpart contains the policies and procedures governing 7(a) business loan programs including standard 7(a), the Preferred Lenders Program, SBA Express, and the Agency’s Pilot Loan Programs.

Subpart C

This subpart contains the policies and procedures governing SBA’s 504 Certified Development Company Loan Program. The policies and procedures governing Certified Development Companies are contained in Subpart A of this SOP.

For the complete announcement from the Small business Administration, please visit

https://www.sba.gov/document/sop-50-10-5-lender-development-company-loan-programs

If you have any questions or need more information about SBA lending practices and requirements or a business valuation for a SBA loan, feel free to connect with us for a conversation.

 


 

Clients choose Harvest Business Advisors for our sage advice on profitably growing their business, accurate business valuations, and when the time is right, a consistent ability to deliver a high price as part of a smooth exit transaction.

Harvest Business Advisors provides business brokerage, business valuation, and business succession planning services. We have extensive experience in the information technology and professional services, manufacturing, distribution, and contracting fields. We maintain offices in Maryland, New Jersey and Virginia. Connect with us at info@harvestbusiness.com or 877-838-4966 to discuss selling your business, ordering a business valuation or buying a business.

Small Business Association offers “Emerging Leaders Initiative” in Washington D.C.

Small Business Association offers “Emerging Leaders Initiative” in Washington D.C.

Harvest Business Advisors typically works with business owners ready to sell their businesses, one of the common refrains you’ll hear from our brokers is to build your business to sell your business. With that in  mind, we encourage you to consider the Small Business Association’s 2019 Emerging Leaders Initiative program for small business owners in the Washington DC area.

For over a decade, the SBA has provided no-cost entrepreneurship education and training for executives of “poised for growth” companies (typically businesses that have been operating for at least three years, with annual revenues of at least $250K). Unlike programs for start-ups or new businesses, this program is geared towards businesses ready to develop a growth strategy.

From the SBA website, the Emerging Leaders Initiative program includes:

  • A three-year strategic growth action plan with benchmarks and performance targets to help the participant emerge as self-sustaining businesses that creates jobs and build communities
  • Includes 100 + hours of professional specialized training and peer-to-peer counseling delivered over the course of seven months
  • Specialized areas of training include:
    • Growth Strategies Plans
    • Financing and Access to Capital
    • Government Contracting
    • CEO Mentoring

The training is offered at a Washington DC location in addition to many other locations across the country.

The Emerging Leadership Initiative program provides – at no-cost – the opportunity to grow and strengthen your company.  If you qualify, we encourage you to connect with the SBA to discuss the program further.  It’s quite an opportunity – especially for Maryland, Virginia and DC companies that work in government contracting.

 

https://www.sba.gov/about-sba/sba-initiatives/sba-emerging-leaders-initiative

Small Business Association offers “Emerging Leaders Initiative” in Washington D.C.

Small Business Association offers “Emerging Leaders Initiative” in Maryland

Harvest Business Advisors typically works with business owners ready to sell their businesses, one of the common refrains you’ll hear from our brokers is to build your business to sell your business. With that in  mind, we encourage you to consider the Small Business Association’s 2019 Emerging Leaders Initiative program for small business owners in the Baltimore area.

For over a decade, the SBA has provided no-cost entrepreneurship education and training for executives of “poised for growth” companies (typically businesses that have been operating for at least three years, with annual revenues of at least $250K). Unlike programs for start-ups or new businesses, this program is geared towards businesses ready to develop a growth strategy.

From the SBA website, the Emerging Leaders Initiative program includes:

  • A three-year strategic growth action plan with benchmarks and performance targets to help the participant emerge as self-sustaining businesses that creates jobs and build communities
  • Includes 100 + hours of professional specialized training and peer-to-peer counseling delivered over the course of seven months
  • Specialized areas of training include:
    • Growth Strategies Plans
    • Financing and Access to Capital
    • Government Contracting
    • CEO Mentoring

The training is offered at a Baltimore location in addition to many other locations across the country.

The Emerging Leadership Initiative program provides – at no-cost – the opportunity to grow and strengthen your company.  If you qualify, we encourage you to connect with the SBA to discuss the program further.  It’s quite an opportunity – especially for Maryland companies that work in government contracting.

 

https://www.sba.gov/about-sba/sba-initiatives/sba-emerging-leaders-initiative

Small Business Association offers “Emerging Leaders Initiative” in Washington D.C.

Small Business Association offers “Emerging Leaders Initiative” in Pennsylvania

Harvest Business Advisors typically works with business owners ready to sell their businesses, one of the common refrains you’ll hear from our brokers is to build your business to sell your business. With that in  mind, we encourage you to consider the Small Business Association’s 2019 Emerging Leaders Initiative program for small business owners in the Philadelphia area and the Pittsburgh area.

For over a decade, the SBA has provided no-cost entrepreneurship education and training for executives of “poised for growth” companies (typically businesses that have been operating for at least three  years, with annual revenues of at least $250K). Unlike programs for start-ups or new businesses, this program is geared towards businesses ready to develop a growth strategy.

From the SBA website, the Emerging Leaders Initiative program includes:

  • A three-year strategic growth action plan with benchmarks and performance targets to help the participant emerge as self-sustaining businesses that creates jobs and build communities
  • Includes 100 + hours of professional specialized training and peer-to-peer counseling delivered over the course of seven months
  • Specialized areas of training include:
    • Growth Strategies Plans
    • Financing and Access to Capital
    • Government Contracting
    • CEO Mentoring

The training is offered at two Pennsylvania locations in addition to many other locations across the country.

The Emerging Leadership Initiative program provides – at no-cost – the opportunity to grow and strengthen your company.  If you qualify, we encourage you to connect with the SBA to discuss the program further.  It’s quite an opportunity – especially for Pennsylvania companies that work in government contracting.

https://www.sba.gov/about-sba/sba-initiatives/sba-emerging-leaders-initiative