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, […]
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 […]
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
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 […]
As Huntsville and Madison County continue to grow, there’s been an exponential surge in small business development over the past several years. Here in North Alabama, small businesses and entrepreneurial ventures have been welcomed with open arms. Economic development is essential for community growth and stability. To that end, the U.S. Small Business Administration recently […]
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