SBA Announces Record Loan Approval Volume in FY 2011 - Supporting Over $30 billion in Small Business Lending
Record $12 billion 1st Quarter Followed By Return to Pre-Recession Levels
Spurred in part by unprecedented loan volume in the year’s first quarter, small business loans backed by the U.S. Small Business Administration in FY2011 reached the highest mark in the agency’s history, supporting over $30 billion, continuing the rebound begun in 2009 and returning to healthy pre-recession levels in the final three quarters of the year.
The National Center for American Indian Enterprise Development Awarded Grant From SBA To Support Small Business Teaming
The U.S. Small Business Administration (SBA) announced that the National Center for American Indian Enterprise Development (NCAIED) is one of eleven awardees in a Small Business Teaming Pilot Program designed to help small businesses work together to compete for federal contracts, grow, and create jobs.
On September 27, 2010, President Obama signed into law the Small Business Jobs Act, the most significant piece of small business legislation in over a decade designed to provide critical resources to help small businesses continue to drive economic recover and create jobs. The Small Business Teaming Pilot Program, one of many beneficial programs made possible by the Small Business Jobs Act, awards grants to organizations for training, counseling, and mentoring to help small businesses enter into teaming relationships and compete for larger federal contracts. Teaming may take the form of joint venture and mentor-protégé relationships.
As one of eleven grantees selected from hundreds efforts to of applications submitted, the National Center was awarded $500,000 that will go toward creating jobs, businesses, and cooperative efforts between businesses and tribes nationally and within Indian Country. The organizations in the pilot program will help small businesses find other firms interested in teaming, form teaming arrangements, and find and bid on larger contracts. Grantees will leverage their existing resources and collaborate with SBA District Offices, resource partners, and other federal, state, local and tribal government small business development programs.
The U.S. Small Business Administration is providing $30 million in grants to states, territories, and the District of Columbia, to help increase exporting by small businesses during the next 12 months. The grants were authorized by the Small Business Jobs Act of 2010, under the State Trade and Export Promotion Program (STEP).
The STEP program, launched in March, aligns with President Obama’s National Export Initiative. The President’s initiative calls for doubling U.S. exports in five years – and in so doing, supporting two million jobs. The program provides federal government funding for 65 to75 percent of program costs, with states supplying the remainder.
The U.S. Small Business Administration (SBA) today announced grant awardees in a pilot program designed to help small businesses work together to compete for federal contracts, grow, and create jobs.
The Small Business Teaming Pilot Program, made possible by the Small Business Jobs Act, awards grants to organizations for training, counseling, and mentoring to help small businesses enter into teaming relationships and compete for larger federal contracts. Teaming may take the form of joint venture and mentor-protégé relationships.
Eleven grantees were selected from hundreds of applications submitted. Grantees were awarded between $200,000 and $500,000 in funding, for a total of approximately $5 million in Fiscal Year 2011.
Spotlight on Commerce: Alejandra Castillo, Deputy Director of the Minority Business Development Agency
Since joining the Minority Business Development Agency in April 2010, I serve as the principal advisor to the MBDA National Director and manage the day-to-day activities of the Agency’s 5 Regional Offices and 48 Minority Business Centers. These Offices and Business Centers are vital centers of economic growth and job creation. Under the Obama Administration, MBDA has assisted minority-owned firms in obtaining nearly $7 billion in contracts and capital, creating nearly 11,000 during the last two years. As the National Deputy Director, I am also responsible for executing the Agency’s mission to help Minority Business Enterprises (MBEs) grow and succeed through access to capital, access to contract and access to business opportunities both domestically and abroad.
Prior to MBDA, I served as Special Advisor to the Under Secretary for the U.S. Department of Commerce’s International Trade Administration (ITA) where I was responsible for business outreach and development of policy initiatives geared at trade promotion and enforcement of U.S. trade laws. Before coming to the Department of Commerce, I was a practicing attorney for several years, working in the private, government and non-profit sector. I also served as the Interim Executive Director of the Hispanic National Bar Association working with the White House and non-profit organization, such as the Latinos for a Fair Judiciary, in support of the nomination and confirmation of Sonia Sotomayor to the United States Supreme Court.