Latest news with #U.S.SmallBusinessAdministration
Business Upturn
4 days ago
- Business
- Business Upturn
SBA Reinstates Rule to Return Federal Contractors to Work
By GlobeNewswire Published on June 17, 2025, 23:35 IST WASHINGTON, June 17, 2025 (GLOBE NEWSWIRE) — Today, the U.S. Small Business Administration announced that it would be reinstating a rule to require government contractors to return to work. Effective Oct. 1, participants in SBA's 8(a) Business Development Program will once again be required to have an actual, physical office within the geographic area in which they are bidding on federal construction contracts. The temporary COVID-era suspension of this rule ends Sept. 30. 'The Covid-19 emergency has long been over and America is open for business – which means the SBA is requiring 8(a) contractors to return to work if they want to bid on taxpayer-funded federal construction contracts,' said SBA Administrator Kelly Loeffler. 'Those that seek to build in America should have boots on the ground in America – enabling them to create jobs, complete projects, and better serve U.S. taxpayers.' During the Covid-19 pandemic, SBA temporarily suspended the bona fide place of business rule for small business 8(a) construction contractors impacted by widespread economic shutdowns. Under the applicable rule, 8(a) construction contractors must have a legitimate office that is within their project's geographical boundary, have at least one full-time employee physically present, and ensure that their bona fide place of business is not a portable trailer, temporary unit, or virtual address. Firms participating in the 8(a) program can email questions to their local servicing district office or visit 8(a) Business Development Program. # # # About the 8(a) Business Development Program The SBA certifies small businesses considered to be socially and economically disadvantaged under its nine-year 8(a) Business Development Program. The 8(a) program helps these firms develop and grow their businesses through one-to-one counseling, training workshops and management and technical guidance. It also provides access to government contracting opportunities, allowing them to become solid competitors in the federal marketplace. About the U.S. Small Business Administration The U.S. Small Business Administration helps power the American dream of entrepreneurship. As the leading voice for small businesses within the federal government, the SBA empowers job creators with the resources and support they need to start, grow, and expand their businesses or recover from a declared disaster. It delivers services through an extensive network of SBA field offices and partnerships with public and private organizations. To learn more, visit Disclaimer: The above press release comes to you under an arrangement with GlobeNewswire. Business Upturn takes no editorial responsibility for the same. Ahmedabad Plane Crash GlobeNewswire provides press release distribution services globally, with substantial operations in North America and Europe.
Yahoo
11-06-2025
- Business
- Yahoo
SBA offering low-interest loans to tornado-affected residents
The U.S. Small Business Administration is offering low-interest disaster loans to individuals, businesses, and nonprofits impacted by the May 16 tornado that struck Laurel County. As of press time Tuesday afternoon, 79 — 61 homes, 13 businesses, and five EIDL (Economic Injury Disaster Loan) — Kentuckians have applied for an SBA disaster loan, and 17 home loan applications have been offered for just over $2.8 million. Eligible residents can receive in-person assistance at a Business Recovery Center now open in London. The center is at the Kentucky Highlands Investment Corporation, located at 440 Old Whitley Road. It is open Monday through Friday from 9 a.m. to 6 p.m. through July 2. SBA representatives are available on site to help applicants complete their forms and answer questions about loan programs. The SBA is providing several types of loans for those who suffered damage from the storms: — Business Physical Disaster Loans: Up to $2 million for businesses to repair or replace damaged property, equipment, inventory, or supplies. — Home Disaster Loans: Up to $500,000 for homeowners and renters to repair or replace disaster-damaged real estate and personal property, including vehicles. — Economic Injury Disaster Loans (EIDL): Up to $2 million in Russell and 20 additional Kentucky counties for small businesses and nonprofits to help cover ongoing operating expenses such as payroll and rent. According to Public Affairs Specialist James "Jim" Accurso, interest rates can be as low as 2.688% for homeowners and renters, 4% for businesses, and 3.25% for nonprofits. Loan terms can extend up to 30 years. Accurso also shared there is no cost to apply, and residents are not obligated to accept a loan if offered. Survivors may additionally qualify for mitigation funds to help strengthen properties against future disasters. Although Accurso recommends visiting the center in person to receive guidance from trained customer service representatives, applications can also be completed online at
Yahoo
10-06-2025
- Business
- Yahoo
SBA Administrator Kelly Loeffler Calls on California Governor Gavin Newsom to Request Disaster Declaration for Small Businesses Impacted by L.A. Riots
Agency Requests Authorization to Deliver Aid to Victims of Looting, Property Destruction WASHINGTON, June 09, 2025 (GLOBE NEWSWIRE) -- Today, Kelly Loeffler, Administrator of the U.S. Small Business Administration (SBA), called on California Governor Gavin Newsom to request an SBA Economic Injury Disaster Loan (EIDL) Declaration to authorize the agency to begin delivering urgent assistance to small businesses across Los Angeles that have been ransacked by rioters since civil unrest began last week. The agency stands ready to deliver critical aid to innocent American victims – whose storefronts have been looted and destroyed by the migrant mob that is wreaking havoc in defense of criminal illegal aliens. 'We're giving Gavin Newsom the opportunity to stop siding with criminal illegal aliens and start siding with law-abiding Americans – many of whom have lost everything to the violent and destructive riots across Los Angeles,' said SBA Administrator Kelly Loeffler. 'The migrant mob has looted stores, destroyed storefronts, and committed criminal acts of vandalism against our small businesses. Although local leaders are allowing Los Angeles to burn, federal partners are ready to help American citizens rebuild – and we will do so, as soon as the Governor answers their call for help.' For the safety of employees and small business owners, Administrator Loeffler recently announced that SBA would be relocating its Regional Office out of Los Angeles due to the city's refusal to cooperate with U.S. Immigration and Customs Enforcement (ICE). The Regional Office is located mere steps from the violence that continues to occur in downtown Los Angeles – and where U.S. Marines have been deployed to restore order. The SBA has provided the state of California with all relevant information needed to request an EIDL Declaration – which will allow small businesses in Los Angeles to apply for low-interest, long-term loans of up to $2 million to help them rebuild following the catastrophic violence of this weekend. Given the urgency of the situation, the SBA is committed to approving any such disaster declaration as soon as it is submitted by Governor Newsom. CONTACT: SBA HQ Press Team U.S. Small Business Administration press_office@ in to access your portfolio
Yahoo
09-06-2025
- Business
- Yahoo
Federal assistance available in Searcy for residents & businesses affected in April storms
SEARCY, Ark. – Federal assistance is available in Searcy for residents and businesses that were affected in the April 2-22 storms in Arkansas. The U.S. Small Business Administration opened a State Survivor Assistance Location that will provide in-person support to help businesses and residents apply for federal disaster assistance. President Donald Trump approves assistance for April storm recovery in Arkansas The site is located at the White County Office of Emergency Management office at 2301 Eastline Road. The location will be open from 8 a.m. to 6 p.m. until Wednesday, June 11. SBA representatives will be on site to answer questions, explain available programs and assist with the application process. Officials with the Arkansas Department of Emergency Management and the Federal Emergency Management Agency will also be on site. 'I was scared,' Vietnam veteran thankful to be alive following severe storms in Almyra Officials said the filing deadline to return applications for physical property damage due to the April storms is July 22. The deadline to return economic injury applications is Feb. 23, 2026. For March storms, officials said the filing deadline to return applications for physical property damage is July 14. The deadline to return economic injury applications for March storms is Feb. 9, 2026. Copyright 2025 Nexstar Media, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
Yahoo
09-06-2025
- Business
- Yahoo
Hurricane Milton-related loans available to Sarasota, Manatee businesses and nonprofits
The U.S. Small Business Administration (SBA) recently announced that low interest federal disaster loans are available to small businesses and private nonprofit organizations in Florida that sustained economic losses caused by Hurricane Milton on Oct. 9-10, 2024. The disaster declaration covers the primary counties of Sarasota, Manatee, DeSoto, Hardee, Seminole and Volusia as well as the adjacent counties of Brevard, Charlotte, Flagler, Glades, Highlands, Hillsborough, Lake, Marion, Orange, Polk and Putnam. Under this declaration, the SBA's Economic Injury Disaster Loan (EIDL) program is available to eligible small businesses, small agricultural cooperatives, nurseries, and PNPs with financial losses directly related to this disaster. The SBA is unable to provide disaster loans to agricultural producers, farmers, or ranchers, except for aquaculture enterprises. EIDLs are available for working capital needs caused by the disaster and are available even if the small business or PNP did not suffer any physical damage. The loans may be used to pay fixed debts, payroll, accounts payable, and other bills not paid due to the disaster. 'Through a declaration by the U.S. Secretary of Agriculture, SBA provides critical financial assistance to help communities recover,' Chris Stallings, associate administrator of the Office of Disaster Recovery and Resilience at the SBA, said in a prepared statement. 'We're pleased to offer loans to small businesses and private nonprofits impacted by these disasters.' This article originally appeared on Sarasota Herald-Tribune: SBA loans available for businesses, nonprofits impacted by Milton
