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December 10, 2012
SBA Approves $150 Million in Sandy Disaster Loans; Application Deadlines Near

WASHINGTON — Filing deadline for physical property damage is Dec. 31 in New York, New Jersey and Connecticut, and Jan. 15 in Rhode Island

WASHINGTON — A month after Hurricane Sandy devastated the East Coast, the U.S. Small Business Administration has approved more than $150 million in low-interest disaster loans to about 2,500 homeowners, renters and businesses in New York, New Jersey, Connecticut and Rhode Island.

If your dry cleaning business was damaged by the storm, there are several ways to apply for SBA disaster relief assistance:

October 19, 2011
Deductions: Get ‘Em While You Can (Part 2 of 2)

ARDMORE, Pa. — Thanks to the 100% “bonus” depreciation write-offs created by the Tax Relief, Unemployment Insurance Reauthorization and Job Creation Act of 2010, many dry cleaning businesses are discovering that capital investments in equipment, machinery and other business assets are more affordable today than ever before. Remember, however, the 100% bonus depreciation write-off is available only for qualifying purchases made by dry cleaning plants and businesses in 2011.

Those dry cleaners that have hesitated or postponed making capital investments because of the recent economic downturn might now want to consider how the combined use of incentives and the 100% bonus depreciation can substantially reduce the cost of capital investments. Even funding those new-equipment purchases is easier—at least for a while.

December 28, 2010
SBA Renews Popular Veterans’ Loan Initiative

WASHINGTON — A popular initiative that in just three-and-a-half years has provided more than $560 million in loan guarantees to nearly 7,000 veterans to start or expand their small businesses is being renewed for three more years, according to the U.S. Small Business Administration (SBA).

May 17, 2010
Be Alert for Loan Scams

WASHINGTON — Small-business owners are complaining about a host of scams, high fees and abusive marketing tactics related to federally guaranteed loans programs, the U.S. Small Business Administration’s (SBA) Office of Inspector General reports.

One of the complaints involves firms charging small businesses high fees to provide assistance in applying for SBA loans. The firms imply that the applicants will receive the loan if the fee is paid. SBA says it does not endorse or give preference to specific private companies or their clients.

April 20, 2010
SBA Recovery Loans Funded Through May 31

WASHINGTON — The $18 billion bill extending unemployment benefits passed last week in Congress and signed by President Obama adds $80 million in funding to two lending programs of the U.S. Small Business Administration (SBA), effectively extending Recovery loan provisions through May 31.

June 23, 2009
SBA Offers Loans to Struggling Small Businesses to Help Them Stay Afloat

WASHINGTON — The U.S. Small Business Administration (SBA) has announced a new loan program designed for small businesses struggling in today’s difficult economy.

The America’s Recovery Capital (ARC) Loan Program can provide up to $35,000 in short-term relief for viable small businesses facing immediate financial hardship, helping these businesses ride out the current uncertain economic times and return to profitability, SBA says.

March 2, 2009
SBA Expands Podcast Topics to Help Weather Recession

WASHINGTON — The U.S. Small Business Administration (SBA) has enhanced its educational podcasts by adding new topics designed to help small-business owners and entrepreneurs weather the current economic storm.

February 23, 2009
SBA Issues Small-Business Scam Alert

WASHINGTON — The U.S. Small Business Administration (SBA) has issued a scam alert warning small businesses not to respond to letters that falsely claim to have been sent by the SBA and ask for bank-account information in order to qualify them for federal tax rebates.

January 28, 2009
SBA Disaster Assistance Tops $21 Million; Economic Injury Funds Still Available

WASHINGTON — More than $21 million in U.S. Small Business Administration (SBA) disaster assistance loans have been approved for small businesses in Illinois that were affected by the severe storms and flooding that occurred there from Sept. 13-Oct. 5, 2008.