Small Business Finance News

Sacramento Receives $600,00 In First Wave Of Federal SBA Funds

Written by Jenna Weiner
Published: 1/28/2011

Sacramento is one of the first cities to benefit from a new wave of funding from the U.S. Small Business Administration.

With banks beginning to loosen up stringent lending requirements and owners growing increasingly more optimistic, small business financial news is taking on a rosier glow.

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To add to this, the U.S. Small Business Administration has begun to release another wave of federal grants to fund job creation programs, hire more small business specialists and counselors and support more micro-lending and business opportunities nationwide, the Sacramento Bee reports.

One of the first cities to benefit is Sacramento, California, which received more than $600,000 from the program.

"It's about jobs, jobs, jobs - creating these jobs," Panda Morgan, director of the Northeastern California Small Business Development Center's Greater Sacramento office, told the source.

"Who has the potential to hire? It's small business. We survive on the well being of small businesses," Morgan added.

The most recent round of funding will only bring the SBA's total monetary support even higher. The agency recently announced that since late September, it supported more than $12 billion in small business loans.

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