Small businesses could qualify for new loans in New Jersey

February 11, 2011

New Jersey-based small business owners, listen up. If your company could use a boost, the U.S. Small Business Administration is about to offer one.

The Small Loan Advantage and Community Advantage programs – available Feb. 15 – will increase capital in underserved communities, providing grants of up to $250,000 to smaller businesses that need it most. According to an article in All Business New Jersey, John Villios, acting director of the New Jersey Small Business Administration office noted that the program would do a lot to serve small businesses in such areas.

According to the article:

Through the Small Loan Advantage program, SBA is encouraging its biggest and most experienced lenders to make more loans in these underserved communities. The Community Advantage program is aimed at lenders who have ties to the community.

“These are small institutions that tend to focus on their general geographic area, and within the community, many of them already have training and assistance that they can provide,” Villios said.

Do you know of a business in need of a loan that might benefit from a national program like this? In what ways have you instituted process improvement programs to boost your own small business? Share your story in our comments section below.

This post is brought to you by the good folks at Dale Carnegie Training of Central & Southern New Jersey. We would love to connect with you on Facebook and Twitter @CarnegieJersey.

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