SBA

SBA Recognizes 2024 Export Lender Award Winners

Retrieved on: 
Monday, April 1, 2024
D.C, SBA, First American Bank, Fulton Financial Corporation, International trade, Lake Michigan Credit Union, Acquisition, Small business, Senior, First American, LMCU, Human, Bank

WASHINGTON, April 01, 2024 (GLOBE NEWSWIRE) -- Today , Administrator Isabel Casillas Guzman, head of the U.S. Small Business Administration (SBA) and the voice in President Biden’s Cabinet for America’s more than 33 million small businesses, announced the 2024 Export Lender of the Year Award winners.

Key Points: 
  • WASHINGTON, April 01, 2024 (GLOBE NEWSWIRE) -- Today , Administrator Isabel Casillas Guzman, head of the U.S. Small Business Administration (SBA) and the voice in President Biden’s Cabinet for America’s more than 33 million small businesses, announced the 2024 Export Lender of the Year Award winners.
  • and First American Bank as the 2024 Export Lenders of the Year, and Lake Michigan Credit Union as the 2024 International Trade Lender of the Year.
  • “Congratulations to these outstanding lending partners, who collectively fuel the engines of our nation’s small business exporters.”
    The SBA’s Export Lender of the Year Awards recognize excellence in export financing.
  • This is First American’s second Export Lender of the Year selection, as the institution was also recognized with the award in 2017.

NewtekOne, Inc. Announces Loan Closings for the First Quarter 2024

Retrieved on: 
Monday, April 1, 2024
EPS, NEWT, Growth, SBA, CRE, Running, BOCA, C&I

BOCA RATON, Fla., April 01, 2024 (GLOBE NEWSWIRE) -- NewtekOne, Inc. (the “Company” or “NewtekOne”) (NASDAQ: NEWT), announced today that its nationally chartered bank subsidiary, Newtek Bank, N.A., closed $207.7 million of SBA 7(a) loans for the three months ended March 31, 2024, which represents a 36.2% increase over $152.5 million of SBA 7(a) loans closed in the first quarter 2023. Newtek Bank and the Company’s non-bank subsidiaries closed $308.6 million of loans, across all loan products, for the three months ended March 31, 2024, which represents a 35.8% increase over $227.2 million for the same period in 2023. The Company also announced strong growth in its loan approval pipeline across all lending products year-to-date through March 31, 2024. In particular, the Company approved $507.7 million of new loans, across all loan products, for the three months ended March 31, 2024. which represents a quarterly record for the Company. NewtekOne’s loan programs include SBA 7(a) loans, SBA 504 loans, alternative lending program (formerly referred to as our non-conforming conventional loan program), conforming C&I loans and conforming CRE loans.

Key Points: 
  • The Company also announced strong growth in its loan approval pipeline across all lending products year-to-date through March 31, 2024.
  • Finally, the Company announced that Newtek Bank has experienced increased deposit activity during the first quarter 2024.
  • Specifically, from the period of March 15, 2024 through March 31, 2024, deposits increased by approximately $30 million.
  • We plan to update our 2024 forecast when we release our first quarter 2024 financial results.

SBA Offers Economic Assistance to Mid-Atlantic Small Businesses Affected by the Francis Scott Key Bridge Collapse

Retrieved on: 
Saturday, March 30, 2024
Letter, SBA, EIDL, Transport, Port of Baltimore, Disaster recovery, Interest, Speech, Telecommunications, Customer service, Movement, Hearing, Francis Scott Key Bridge

WASHINGTON, March 30, 2024 (GLOBE NEWSWIRE) -- Today, SBA Administrator Isabel Casillas Guzman announced that Mid-Atlantic small businesses affected by the Francis Scott Key Bridge collapse on March 26, 2024 may apply for low-interest, long-term Economic Injury Disaster Loans (EIDLs) from the U.S. Small Business Administration (SBA) .

Key Points: 
  • WASHINGTON, March 30, 2024 (GLOBE NEWSWIRE) -- Today, SBA Administrator Isabel Casillas Guzman announced that Mid-Atlantic small businesses affected by the Francis Scott Key Bridge collapse on March 26, 2024 may apply for low-interest, long-term Economic Injury Disaster Loans (EIDLs) from the U.S. Small Business Administration (SBA) .
  • “The SBA joins the entire federal family in grieving for the lives lost in the tragic collapse of the Francis Scott Key Bridge,” said Administrator Guzman.
  • The declaration applies to small businesses, small agricultural cooperatives, small aquaculture businesses, and private nonprofit organizations.
  • “The bridge collapse will impact small businesses who depend on the transportation and movement of goods from the Baltimore Harbor and along the Francis Scott Key Bridge for their economic livelihood,” said Francisco Sánchez, Jr., Associate Administrator for the SBA’s Office of Disaster Recovery and Resilience .

SBA Recognizes 2024 Resource Partners of the Year

Retrieved on: 
Friday, March 29, 2024
SBA, Mississippi State University, Business education, The Business Council, Innovation, Raytheon Company, Woman, Central business district, Business Center (TV series), Associate, University, Army, Growth, National Small Business Week, Small business, Hope, Metro, Human

WASHINGTON, March 29, 2024 (GLOBE NEWSWIRE) -- Today, Administrator Isabel Casillas Guzman , head of the U.S. Small Business Administration (SBA) and the voice in President Biden’s Cabinet for America’s more than 33 million small businesses, recognized four SBA Resource Partners of the Year awardees.

Key Points: 
  • WASHINGTON, March 29, 2024 (GLOBE NEWSWIRE) -- Today, Administrator Isabel Casillas Guzman , head of the U.S. Small Business Administration (SBA) and the voice in President Biden’s Cabinet for America’s more than 33 million small businesses, recognized four SBA Resource Partners of the Year awardees.
  • "As our small business owners across America continue to exhibit resilience and hope, our SBA Resource Partner network leverages the power of SBA tools and resources."
  • SCORE National Chapter of the Year:
    SCORE Southeast Wisconsin – Milwaukee, Wisconsin
    SCORE, an SBA resource partner, named SCORE Southeast Wisconsin the 2024 Chapter of the Year for its outstanding support of small businesses.
  • Under Shawntay’s leadership, the Great Lakes Women’s Business Council has been recognized by the Association of Women’s Business Centers, a national SBA resource partner.

SBA Administrator Guzman Announces 17 New Women’s Business Centers

Retrieved on: 
Friday, March 29, 2024
Financial management, WBC, White blood cell, SBA, Master, MSI, Small business, Mentorship, Commerce, Male, Central business district, Senior counsel, Marketing, Human, Casino

“Under the Biden-Harris Administration, we have seen a historic Small Business Boom, with women, especially women of color, filing new business applications at double the rates of men,” said Administrator Guzman.

Key Points: 
  • “Under the Biden-Harris Administration, we have seen a historic Small Business Boom, with women, especially women of color, filing new business applications at double the rates of men,” said Administrator Guzman.
  • “The SBA’s expanding network of Women's Business Centers is meeting these new and established businesses where they are with resources to help them get funding to grow, create jobs, and strengthen our economy.
  • Through the SBA’s Office of Women’s Business Ownership (OWBO) , the 17 new WBCs – including 13 hosted by MSIs – will help diverse entrepreneurs pivot, grow, and navigate SBA resources they can use to ensure their businesses thrive.
  • “Through WBCs, the SBA provides practical help to women working hard to build successful businesses of their own,” said Christina Hale, Assistant Administrator for the Office of Women's Business Ownership .

U.S. Small Business Administration Announces 2024 National Small Business Week Co-Sponsors

Retrieved on: 
Thursday, March 28, 2024
SBA, Mentorship, Food truck, Partnership, National Small Business Week, Communication, Small business, Administration

WASHINGTON, March 28, 2024 (GLOBE NEWSWIRE) -- Today, the U.S. Small Business Administration announced the 2024 National Small Business Week (NSBW) co-sponsors and educational session topics for the Virtual Summit, taking place April 30-May 1.

Key Points: 
  • WASHINGTON, March 28, 2024 (GLOBE NEWSWIRE) -- Today, the U.S. Small Business Administration announced the 2024 National Small Business Week (NSBW) co-sponsors and educational session topics for the Virtual Summit, taking place April 30-May 1.
  • To register, visit National Small Business Week Virtual Summit registration .
  • With the right tools and support anyone can achieve the American dream of business ownership, and the SBA is excited to connect with entrepreneurs nationwide during this National Small Business Week and Virtual Summit.
  • “National Small Business Week is a valuable opportunity for entrepreneurs to hear from industry experts, connect with other small business owners, and tap into expert advice from SCORE mentors,” said SCORE CEO Bridget Weston.

SBA Recognizes the Office of Surety Guarantees FY23 Award Winners

Retrieved on: 
Thursday, March 28, 2024
Growth, SBA, Veteran, Turner, Partnership, Small business, Private sector, Surety, Woman, Sponsor, SBG, Alliant, Government, Human, Insurance

“SBA’s surety guarantee partners play a crucial role in helping the SBA facilitate billions of contracting dollars to America’s small businesses, and our 2024 Surety Guarantee award winners are delivering above and beyond to advance our economy,” said Administrator Guzman.

Key Points: 
  • “SBA’s surety guarantee partners play a crucial role in helping the SBA facilitate billions of contracting dollars to America’s small businesses, and our 2024 Surety Guarantee award winners are delivering above and beyond to advance our economy,” said Administrator Guzman.
  • Pinnacle Surety & Insurance Services was honored as Surety Agency of the Year, and Kenneth C. Turner of KOG International, Inc. was chosen as Surety Agent of the Year.
  • Surety of the Year award recipient The Gray Casualty & Surety Company joined the SBA’s Surety Bond Guarantee Prior Approval Surety Bond program in 2017.
  • Surety Agency of the Year award recipient Pinnacle Surety & Insurance Services is an Alliant company that has been an SBA-authorized agency since 2011.

Janover Reports Fiscal 2023 Financial Results and Provides Business Update

Retrieved on: 
Thursday, March 28, 2024
SMB, Software as a service, Growth, SBA, CFO, Federal, Artificial intelligence, Acquisition, Small business, IPO, Completeness, Investment, Small Business Administration, BOCA, Federal Reserve, Marketing, CPA, Cryptocurrency

BOCA RATON, Fla., March 28, 2024 (GLOBE NEWSWIRE) -- Janover Inc. (Nasdaq: JNVR) (“Janover” or the “Company”), an AI-enabled platform for commercial real estate transactions, today provided a business update, and announced its financial results for the year-ended December 31, 2023.

Key Points: 
  • BOCA RATON, Fla., March 28, 2024 (GLOBE NEWSWIRE) -- Janover Inc. (Nasdaq: JNVR) (“Janover” or the “Company”), an AI-enabled platform for commercial real estate transactions, today provided a business update, and announced its financial results for the year-ended December 31, 2023.
  • However, the downward pressure on the commercial real estate financing business was offset by strong growth in the SBA and SMB business, which more than doubled over the past two fiscal years.
  • Sales and marketing expenses for the year-ended December 31, 2023, were $2.0 million, compared to $1.6 million for the year-ended December 31, 2022.
  • Adjusted EBITDA and adjusted EBITDA per share are non-GAAP financial measures (defined below).

Capital Bancorp, Inc. Announces Acquisition of Integrated Financial Holdings, Inc.

Retrieved on: 
Thursday, March 28, 2024
Capital Bank, USDA, SBA, EVP, Partnership, LLP, Capital, C&I, Head, Acquisition, Small Business Administration, Melissa, CBNK, Government, Security (finance)

At closing, Capital shareholders will own approximately 84% and IFH shareholders will own approximately 16% of the combined company.

Key Points: 
  • At closing, Capital shareholders will own approximately 84% and IFH shareholders will own approximately 16% of the combined company.
  • Including Windsor Advantage’s industry leading government guaranteed servicing platform, Capital is well positioned to capitalize on this growing niche.
  • A. Riddick Skinner, EVP of Government Lending at IFH, will join Capital Bank as Head of Government Guaranteed Lending Program.
  • Raymond James & Associates, Inc. served as financial advisor and Wyrick Robbins Yates & Ponton LLP served as legal advisor to IFH.

Readout of SBA Administrator Guzman’s Participation in the SBA’s Third Annual Women’s Business Summit

Retrieved on: 
Wednesday, March 27, 2024
SBA, Woman, Office, Interview, The Business Council, Male, Central business district, Public engagement, Government, East Room

WASHINGTON, March 27, 2024 (GLOBE NEWSWIRE) -- On Tuesday, March 26, SBA Administrator Isabel Casillas Guzman kicked off the SBA’s third annual Women’s Business Summit alongside top Biden-Harris Administration officials, business leaders, and women entrepreneurs.

Key Points: 
  • WASHINGTON, March 27, 2024 (GLOBE NEWSWIRE) -- On Tuesday, March 26, SBA Administrator Isabel Casillas Guzman kicked off the SBA’s third annual Women’s Business Summit alongside top Biden-Harris Administration officials, business leaders, and women entrepreneurs.
  • The summit was held in collaboration with the National Women’s Business Council, co-sponsored by the Nasdaq Entrepreneurial Center and the Association of Women’s Business Centers.
  • Administrator Guzman opened the summit by participating in a fireside chat with U.S. Trade Representative Ambassador Katherine Tai.
  • The 2023 Women’s Business Summit featured remarks from President Joe Biden in a White House East Room event.