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Monday, July 30th, marked 65 years that the U.S. Small Business Administration (SBA) has been in service for millions of entrepreneurs and small businesses. Founded on July 30, 1953, the SBA has provided small businesses “with access to funding, mentoring, counseling, and when disaster strikes, support to recover and get back to business,” their press release states.
The state of Hawaii and the Federal Emergency Management Agency (FEMA) are operating a U.S. Small Business Administration (SBA) Disaster Recovery Center, opened on June 29th, to offer assistance to Kauai and Oahu residents that were affected by the flooding, mudslides and landslides that took place this April. FEMA has approved approximately $281,000 in individual assistance grant funding. Deadline to apply for individual physical damage assistance is August 27th, 2018, while impacted small businesses can apply until March 27, 2019.
The U.S. Small Business Administration (SBA) released a statement by Administrator Linda McMahon about their new strategic joint initiative with United Technologies Corporation (UTC), a Connecticut-based company. UTC announced that it plans to hire 35,000 new employees, invest $15 billion in the United States over the next five years, and spend $75 billion for its U.S. suppliers, with $19 billion going to small businesses.
From the hurricanes that hit Texas, Florida and Puerto Rico, to the wildfires that consumed parts of California’s Wine Country, this year has been fraught with catastrophic natural disasters which have uprooted countless Americans from their stable lives. These disasters, also including tornadoes, hail storms, droughts, cyclones and floods, destroyed properties, businesses, communities, cities and United States territories; left families and their pets without shelter, food, utilities and vulnerable to disease; and caused hundreds of deaths and casualties.
The National Oceanic and Atmospheric Administration (NOAA) reports that 15 weather and climate disasters in the U.S. have each caused over $1 billion in damages in 2017 alone. These events have resulted in the death of 282 people and have had consequential economic effects in the locations affected. As of October, the costs for the major hurricanes—Hurricanes Harvey, Irma and Maria—are still being calculated. An article from USA Today, however, estimates that Hurricane Harvey will reach at least $190 billion in damages.
From the hurricanes that hit Texas, Florida and Puerto Rico, to the wildfires and mudslides that devastated parts of California, the past year has been fraught with catastrophic natural disasters which have uprooted countless Americans from their stable lives. All victims of declared natural disasters—businesses, private nonprofits, homeowners and renters—are able to apply for low-interest disaster loans from the U.S. Small Business Administration (SBA) to help them recover. Renters and homeowners do not have to own a business to apply.
The U.S. Small Business Administration (SBA) announced today that is has approved over one billion U.S. dollars in low-interest disaster loans for over 28,000 Puerto Rico residents and businesses to help them recover from Hurricanes Irma and Maria. The deadline for filing for physical property damage is March 20, 2018. The deadline for economic injury loan applications is June 11, 2018 for Hurricane Irma, and June 20, 2018 for Hurricane Maria.
The University of Houston has received a $2.3 million continuation grant from the U.S. Small Business Administration (SBA) to help them create 300 new small businesses in Houston, Texas. The recipients of the award—Bauer College’s Small Business Development Center—services around 10,000 businesses a year in 32 counties along the Gulf Coast.
From February to mid-March, the U.S. Small Business Administration will offer small businesses a free six-part, webinar series to help them utilize its Historically Underutilized Business (HUB) Zone Program. Each webinar will include an hour of important tips on how businesses can grow their bottom line by making the most of their available resources.
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