| Capital Access lending a hand
When Rhonda Hatfield needed a loan to open a child-care center in southeastern Jefferson County four years ago, she ran into a roadblock that she believes is familiar to many startups: "Banks don't want to work with them until they have proven themselves," she said. "If you don't have someone backing you, you can't move ahead." But Hatfield found a friend in Capital Access Corp.-Kentucky, a not-for-profit organization that helped her secure a $1 million loan package from a bank and the U.S. Small Business Administration through its "504" loan program. .
Business owner shares experience with others
ESCONDIDO ---- Arnold Jaffa has spent the past 25 years drawing from his experiences as a business owner to counsel others on how to make their own enterprises successful."My philosophy in life is if someone succeeds, then everyone benefits," he said. That's why the Escondido resident has volunteered as a counselor since 1982 for San Diego's Service Corps of Retired Executives, or SCORE, an organization sponsored by the U.S. Small Business Administration. .
Courier News Online - Federal loans are available to businesses hurt by August storm
The U.S. Small Business Administration has announced that federal economic injury disaster loans are available to small businesses in several local counties as a result of hail and high winds on Aug. 17. Under the declaration, the agency's Economic Injury Disaster Loan program is available to farm-related and nonfarm-related small business concerns and small agricultural cooperatives that suffered financial losses because of the disaster. Farmers and ranchers cannot apply to the Small Business Administration.
Eligible small businesses in Hunterdon, Mercer, Morris, Somerset and Warren counties might qualify for loans of up to $1.5 million. The loans are available at a 4 percent interest rate with terms up to 30 years.
The agency determines program eligibility based on the size and type of business and its financial resources.
|
