Lenders who participate in the U.S. Small Business Administration’s Preferred Lender Program can approve loans through the agency’s new Small Loan Advantage program beginning Feb. 15. At the same time, the agency will begin accepting applications from community-based, mission-focused lenders who are interested in making SBA-guaranteed loans through the new Community Advantage program.
Both the Small Loan Advantage and Community Advantage programs were announced in December as part of the agency’s efforts to increase the number of lower dollar loans being made to small businesses and entrepreneurs in underserved communities.
On Wednesday, January 26, 2011, the Minority Business Development Agency (MBDA) conducted a briefing for House and Senate staff designed to provide attendees with an overview of the Agency and the critical role the minority business community plays in the overall national economy.
This event, co-hosted by U.S. Senator Robert P. Casey (PA) and U.S. Rep. Bobby L. Rush (IL-01), included remarks from both hosts as well as U.S. Rep. Frederica S. Wilson (FL-17).
As I begin my second full year leading the Minority Business Development Agency, I want to take a moment to express how honored I am to work with the Agency’s network of minority business centers and our public and private sector partners on behalf of the minority business community. Minority-owned firms continue to grow and flourish despite tough economic conditions.
With the election of 104 new Representatives and Senators, the 112th Congress will be marked with changes in both the House of Representatives and Senate following the November elections.
On behalf of the White House Initiative on Asian Americans and Pacific Islanders (Initiative), I would like to invite you to submit comments to agency plans posted online at www.aapi.gov under “Agency Implementation Plans” in the right-hand column. In order for the federal government to take meaningful steps, it is critically important that the Asian American and Pacific Islander (AAPI) community provide feedback to help guide the final review.