- Instructional Content
- News & Blog
In keeping with February’s theme of entrepreneurship, below is information regarding the Small Business Administration’s (SBA) Community Advantage loan program for small business owners and entrepreneurs in traditionally underserved communities. Since they often face challenges gaining access to the capital they need to succeed, having this kind of resource available is often what separates a successful enterprise from one that struggles or fails.
Programs like Community Advantage can be a valuable tool to put in the Rapid Response toolkit. They can assist in layoff aversion and reemployment efforts.
Check out the information below and offer your comments and insight on how Community Advantage – or similar small business loan programs -- may – or have --come into play in your efforts to prevent layoffs or assist dislocated workers find new employment.
Source and Details: Click Here
The Small Business Administration is introducing a new pilot loan program called ``Community Advantage'' to provide 7(a) loan guaranties to small businesses in underserved markets, including veterans and members of the military community.
The Community Advantage Pilot Program will allow mission oriented lenders, primarily non-profit financial intermediaries that are focused on economic development in underserved markets, access to 7(a) loan guaranties for loans of $250,000 or less.
The Community Advantage Pilot Program became effective on February 15, 2011, and will remain in effect through March 15, 2014. SBA began accepting applications from lenders for participation in the Community Advantage Pilot Program February 15, 2011.
SBA Press Release: Click Here
Community Advantage Participant Guide: Click Here
We’re always looking for new and interesting resources. Upload your resources now.
Stay connected by subscribing to one of our content feeds.