INNOVATION NEWS
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SBA's Bold Move to Empower Small Businesses
The U.S. Small Business Administration (SBA) is set to release billions in loan dollars to venture capital funds as part of a new rule. This move modernizes the Small Business Investment Company (SBIC) program, intending to boost investment in U.S. small businesses, especially those in underserved regions, capital-intensive sectors, and areas crucial for national security.
Low-Interest Federal Disaster Loans to Assist Businesses with Storm Damage
Low-interest federal disaster loans are now available to California businesses and residents as a result of President Biden’s major disaster declaration.
SBA Increases Lending for COVID-19 Economic Loans
SBA is raising the loan limit for the COVID-19 EIDL program from 6-months of economic injury with a maximum loan amount of $150,000 to up to 24-months with a maximum loan amount of $500,000.
Equitable Relief for Small Businesses
The Paycheck Protection Program, Biden-Harris Administration and U.S. Small Business Administration are taking action to further equitable relief for small businesses (even the smallest!).