Since 1953, the U.S. Small Business Administration (SBA) has been providing entrepreneurial assistance to small business owners who are veterans and service-disabled veterans to start, resume, and further grow their businesses. The organization will host a workshop for veterans and offer technical assistance providers, lenders and contracting officers in the Los Angeles region.
The Veteran Entrepreneur Workshop will take place Tuesday, Aug. 18 from 5pm to 7pm at the Veterans Administration Hospital, 5901 E. 7th St., Bldg. 2, 2nd Floor in the Pantages Theater. (Parking is available in Lots J, K and N.)
The Los Angeles District Office has funded more than 1,100 veteran entrepreneurs during the last five fiscal years, injecting almost $300 million into their enterprises. With respect to the Recovery Act, the Los Angeles District office is implementing the incentives signed into law February 17, 2009 to unlock the small business lending market and get much needed capital flowing again to our region’s small businesses. The incentives include increased guarantees with fees eliminated for borrowers on 7(a) loans and eliminated and reduced fees for borrowers and lenders on 504 loans.
The SBA has also announced it can provide surety bond guarantees on certain federal contracts valued at up to $10 million and can provide bond guarantees up to $5 million through September 2010 on all public and private contracts and subcontracts. Under a partnership, SBA provides a guarantee to the participating surety company of between 70 and 90 percent of the bond amount.
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(818) 552-3222
