America has over 30 million small business owners. These innovative entrepreneurs are the engine of job creation and economic growth in our country. The U.S. Small Business Administration (SBA) ensures these businesses have the tools and resources necessary for...
The City of Springfield, Illinois, recognizes the immense contributions of its small business community to the health and vibrancy of the city. In an effort to assist local economic development efforts, the City has several programs available to incentivize...
On February 21, 2018, Congressman Mike Bost (IL-12) visited a rural small business, Magnum Steel Works, Inc., in Mt. Vernon, Illinois. The purpose of this visit was to get a firsthand glimpse of the impact local business expansion has on its community. He also...
If you’re a small business located in a rural community, you should be aware of an SBA loan program created specifically to help you grow and expand. The SBA 504 Loan Program, an economic development tool designed to help businesses in rural communities,...
Starting or growing a business can, and usually does, involve spending in several different areas. And some business owners may find their type of business to be one that lenders pass on due to inexperience with the business type or lack of comfort with the risks....
When it comes to SBA lending, the most common question we hear is, “What’s the difference between the SBA 504 and SBA 7a programs?” Many people are familiar with the better-known 7a and automatically assume that is the best option for financing any...
