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Phoenix Business Center Hosts Second Annual Global Business Conference

Blogged By: 
MBDA
Created on October 3, 2014
 

Global TradeThe Phoenix MBDA Business Center will partner with the Thunderbird School of Global Management Oct. 23-24 to host their second annual Global Business Conference.

“We’re very excited to have the opportunity to continue our partnership with the Thunderbird School of Global Management,” said Alika Kumar, Director of the Phoenix MBDA Business Center.

The event will provide a platform to talk about the National Export Initiative (NEI) and how it can benefit minority business enterprises.

“Our goals for the Conference are simple and purposeful: to increase awareness of the opportunities in global markets, to promote greater participation in global business endeavors, and to provide an understanding of the resources available to help businesses succeed in capturing a portion of the larger world market,” she said.

Browns Honor Cleveland MBDA Business Center Luis Cartagena with NFL Hispanic Heritage Leadership Awards

Blogged By: 
MBDA
Created on October 3, 2014
 

NFL Hispanic Heritage Leadership Award to Luis CartagenaThe Cleveland Browns presented the NFL Hispanic Heritage Leadership Award to Luis Cartagena, a business development specialist with the Cleveland MBDA Business Center on Sept. 21.

Exciting Opportunities to Expand Your Business

Blogged By: 
MBDA
Created on October 3, 2014
 

Trade MissionThe Department of Commerce’s trade missions help U.S. firms explore and pursue exporting by meeting directly with potential clients in their markets. Each year the department organizes trade missions that target specific countries or groups of countries with promising export opportunities.

Below is a list of upcoming trade missions:

Executive-Led Ports and Marine Technology Mission to India

February 2-6, 2015
Application deadline is October 20, 2014.

Affordable Care Act 101 Webinars for Employers

Blogged By: 
MBDA
Created on October 1, 2014
 

Health Care WebinarEmployers can learn the basics of the Affordable Care Act and what it means for their organization and employees at free weekly webinar.

Topics covered include cost containment, the Small Business Health Care Tax Credit, the new Health Insurance Marketplace, and Employer Shared Responsibility.

Webinar content will generally be the same each week. Below are the registration links for upcoming webinars in English.

SBA to Extend no Upfront-fee Loans Offer to Borrowers Seeking $150K or Less

Blogged By: 
SBA News
Created on October 1, 2014
 

Business Loan Application Form

Veterans Advantage program also extended, expanded to loans up to $5 million

Good news for entrepreneurs seeking SBA financing to purchase or grow a small business. The SBA will continue its provision to eliminate the upfront fee paid by all borrowers for the guaranteed portion of 7(a) loans of $150,000 or less, and will expand the no upfront-fee program for veteran-owned small businesses, through Sept. 30, 2015. 

Before this change, borrowers using the SBA guarantee through participating lenders would pay up to two percent of the guaranteed portion on these loans, which would cost a small business owner up to $2,700 in fees.

However, if two or more SBA guaranteed loans are approved within 90 days of each other, the guaranty fee is determined based on the aggregate amount of the loans. Thus, if the total amount of multiple loans approved within 90 days is greater than $150,000, the normal fees will apply. Lenders are not permitted to split loans for the purpose of avoiding fees for their small business borrowers.

Participating lenders also will continue to see a break; the SBA will eliminate the servicing fee paid by them each month on loans $150,000 or less. The servicing fee paid by lenders each month on 7(a) loans greater than $150,000 will drop to 0.519 percent on the guaranteed portion of the outstanding balance beginning Oct. 1, 2014.

Did you know...

MBDA Minority Business Centers helped clients secure contracts totaling $6.9 billion during the last 5 fiscal years.
Graph for Dollar Value of Contracts

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