Blog

It’s Small Business Week and microlending through the Small Business Administration has been a major lifeline to many American small businesses navigating COVID over the last year. Through May 2, 2021, the Microlending community has made 156k PPP loans for $2.76 billion (averaging $16k each). Join us as we highlight some of the Friends of SBA Microlenders who have been…

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The SBA released the following information on the windows for lender participation. As you know, CFIs, including SBA Microlenders, had first access for first draw loans starting on January 11 and second draw on January 13. A new group of lenders under $1 billion in assets will have access starting tomorrow, in addition to CFIs. Major financial institutions will not…

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WWBIC, founded in 1987, is a  economic development corporation headquartered in Milwaukee, Wisconsin. WWBIC goal is “Putting Dreams to Work” through its financing and technical assistance to small businesses in Wisconsin. In 2018, WWBIC provided 26,755 counseling and training hours, assisting 5,119 clients, and closed over $7,506,900 (131) in small business loans. Their clients started, strengthened, or expanded 1,429 businesses…

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Entrepreneur Fund is an SBA Microloan intermediary headquartered in Duluth, Minnesota and an active member of the Friends of the SBA Microloan Program. The organization actively partners with entrepreneurs to stimulate the growth of successful businesses in Aitkin, Benton, Carlton, Cass, Cook, Crow Wing, Itasca, Kanabec, Koochiching, Lake, Mille Lacs, Morrison, Pine, St. Louis, Stearns and Todd Counties in Minnesota…

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On May 21, 2019, the Friends of the SBA Microloan Program is hosting an informational briefing for Members of Congress and their staffs on the SBA Microloan Program. The event will feature presentations from four SBA Microloan intermediaries that provide financial and technical assistance to small businesses owned by low-income, women, minority, and veteran entrepreneurs. Be sure to share this…

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Since 2000, Access to Capital for Entrepreneurs (ACE) has helped over 900 small businesses start and grow in Georgia, made more than $60 million in loans and helped create/retain nearly 8,000 jobs. ACE, a longtime member of the Friends, is focused on assisting small-business owners of color, women, low-income entrepreneurs and others who lack equitable access to small-business financing across…

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National Small Business Week kicked off yesterday with an awards event hosted by the U.S. Small Business Administration (SBA). The ceremony featured the Jody C. Raskind Award for the 2019 Microlender of Year. This year’s award went to the Colorado Enterprise Fund (CEF), a longtime member of the Friends of the SBA Microloan Program. CEF was one of the first…

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Washington, DC—July 19, 2018—Last night, the Microloan Program Modernization Act (S. 526) was passed by the Senate. The bill was introduced by Sen. Deb Fischer on March 2, 2017 and cosponsored by a bipartisan group of House members, including Sens. Chris Coons (D-DE), Tim Scott (R-SC), Kirsten Gillibrand (D-NY), Jeanne Shaheen (D-NH), Gary Peters (D-MI), Joe Donnelly (D-IN) and Tammy…

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Access to Capital for Entrepreneurs (ACE), is a member of the Friends of the SBA Microloan program and located in Georgia. Since its inception in 1999, ACE has lent more than $37 million to 725 small businesses, saving or created more than 6,200 jobs in the state. ACE uses these federal programs and leverages significant private funds to assist underserved…

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Small Business Loans (CDC Loans) is a member of the Friends of the SBA Microloan Program and an active SBA Microloan intermediary. A nonprofit organization, located in San Diego, California, CDC Loans offers low interest financing programs to businesses of all shapes and sizes so they can expand, grow, and create jobs. Throughout their 39 year history, the organization has…

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Written by Ayrianne Parks and Sam Rapoza The Wisconsin Women’s Business Initiative Corporation, (WWBIC) is a long time member of the Friends of the SBA Microloan Program, based in Wisconsin. WWBIC helps individuals who face barriers that keep them from getting the funding needed to start or keep their business running. On Sunday, Wendy K. Baumann, WWBIC President and CVO,…

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Written by Sam Rapoza The Mountain Association for Community Economic Development (MACED) is a long time member of the Friends of the SBA Microloan Program. MACED is local to Kentucky, and partners with people local to the state who like Ms. Suramek, are keen on building upon the strengths of Kentucky and Central Appalachia through sustainable development. A recent example…

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Written by Sam Rapoza This week is National Small Business Week. Since 1963, presidents have declared a week recognizing contributions of our country’s entrepreneurs and small business owners. Our members, the Friends of the SBA Microloan Program, play an important role in supporting entrepreneurs the Small Business Administration (SBA) Microloan Program. This is the largest federal program exclusively targeted to supporting…

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On March 30th, the Friends of the SBA Microloan Program gathered in Washington, D.C. to meet with senior SBA staff and Members of Congress and their staff about their work as Microloan intermediaries.  As a part of the effort, the group hosted a Congressional Briefing in the House Small Business Committee Room.  Ayrianne Parks of Rapoza Associates welcomed attendees and…

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Colorado Enterprise Fund (CEF), a member of the Friends of the SBA Microloan Program, is turning 40! The organization, which is a private non-profit lending institution offering loans to small businesses in Colorado, provides technical assistance and capital to help promote business development and growth. In fact, CEF has loaned over $49 million to more than 1,700 businesses since 1976, helping…

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Accion recently received a recommendation from Business News Daily, which highlights the Friends member as the best alternative lender for startup loans. Accion was chosen from dozens of alternative lenders. Read the story…

The House Appropriations Committee approved the Fiscal Year 2016 Financial Services Bill on June 17, on a vote of 30-to-20.  The bill provides a total of $20.2 billion in funding for the Treasury Department, the Judiciary, the Small Business Administration (SBA), and the Securities and Exchange Committee, which is $1.3 billion below the FY15 allocation and $4.8 billion below the…

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Treasurer Spencer Coggs Keynote Speaker at Financial Education Graduation Milwaukee Courier Coggs stated “You are taking control of your future by participating and completing this course in financial literacy.” Sponsored by the Housing Authority of the City of Milwaukee (HACM) and the Wisconsin Women’s Business Initiative Corporation (WWBIC), the 100 graduates had completed the classes they had taken since January…

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On June 10, 2015, the House Committee on Small Business held a markup to consider several bills, including H.R. 2670, the Microloan Modernization Act of 2015, which passed by voice vote. The bill contains seven sections.  Notably, Section 2 provides a waiver of the 25/75 rule.  Under the bill, intermediaries would be able to apply to the Administrator for a…

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The Wisconsin Women’s Business Initiative Corporation (WWBIC), a Friends of the SBA Microloan Program member, partnered with the Housing Authority of the City of Milwaukee to sponsor to the “Make Your Money Talk” financial education class.  Make Your Money Talk is a personal money management program that provides individuals with the opportunity to improve their personal money management skills, address…

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