More free info for small business owners: representatives of the Small Business Administration plan a free-one day forum in Chicago Friday to discuss opportunities for business owners and entrepreneurs, a direct result of the Small Business Jobs Act.
The SBA Jobs Act was signed last September, and expands the number of small businesses that are eligible for government loans, raises the loan limits and will allow some small businesses to refinance owner-occupied commercial real estate mortgages.
It includes an extension of SBA loan provisions, including more than $12 billion in lending support. The law expanded the number of small businesses eligible for SBA loans by increasing the alternate size standard to those with less than $15 million in net worth and $5 million in average net income.
According to the SBA website, a major share of Jobs Act loans went to rural (22%), minority-owned (21%), women-owned (16%) and veteran-owned (7%) businesses.
Event sessions include explanations of federal contracting provisions and exporting; counseling and training services; ways to access capital and a chance to meet SBA staff.
The day-long event will take place at Citigroup Center in Chicago. More information is available at www.sba.gov/jobsacttour/Chicago.