Small business creation is on the rise in Alabama. Nearly 220,000 new businesses have been created across the state in the last three years. “The combined 2020-2021 monthly averages of new business applications are up 51.12% compared to pre-2021 numbers in Alabama,” Megyn Rodriguez, Public Information Officer for Alabama’s Small Business Administration (SBA) District Office, […]
On March 14, 2023, Administrator Isabella Casillas Guzman, head of the U.S. Small Business Administration (SBA) and voice in President Biden’s Cabinet for America’s 33 million small businesses, announced the Small Business Persons of the Year from each of the 50 states, the District of Columbia, and Puerto Rico. The State, District of Columbia, and Puerto […]
The U.S. Small Business Administration (SBA) Region IV Administrator, Allen Thomas, in his commitment to support small businesses manufacturing goods and products “Made in America”, recently surveyed the 9 SBA districts in the Southeast United States to determine and recognize firms creating impact through manufacturing efforts in their local communities. “Manufacturing businesses create great jobs […]
Small business forms the lifeblood of the Huntsville area community, and in recognition of that, the Huntsville-Madison County Chamber of Commerce commemorated National Small Business Week with an event held Tuesday in the Chamber atrium. Chamber Vice President of Small Business Ashley Engels-Ross kicked off the event, which recognized the importance of small businesses to […]
The U.S. Small Business Administration is increasing the maximum amount small businesses and non-profit organizations can borrow through its COVID-19 Economic Injury Disaster Loan (EIDL) program, the agency announced. Starting the week of April 6, the SBA is raising the loan limit for the COVID-19 EIDL program from six months of economic injury with a maximum […]
Loan data shows 1.3 million loans and significant increase to underserved entrepreneurs
Today, the U.S. Small Business Administration announced that it has approved approximately 60,000 PPP loan applications submitted by nearly 3,000 lenders, for more than $5 billion, between the program’s re-opening Jan. 11 and last Sunday. Last week, the PPP provided dedicated access to community financial institutions that specialize in serving underserved communities, including minority- women-, […]
The Small Business Administration and the Department of Treasury recently issued a set of Frequently Asked Questions about Paycheck Protection Program loan forgiveness. Below is a summary of the key information from the released FAQs: The FAQs clarified that C-corporation owner-employee health and retirement benefits are eligible PPP expenses in addition to their $100,000 salary cap. Eligible […]
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