Small Businesses Using SBA Loans For Growth And Relief
Written by Jenna Weiner
The SBA is providing financial aid for SMBs looking to expand into foreign markets, as well as companies that were damaged by tropical storms.
Small businesses in New Hampshire interested in reaching foreign markets recently received a financial boost to help them achieve that growth. The U.S. Small Business Administration recently awarded the state $299,493 in federal funding through the State Trade Export Promotion grant program developed under the Small Business Jobs Act.
The Nashua Telegraph reported the assistance program was developed to provide support for local and state businesses looking to expand into foreign markets. The grant will help provide capital, resources and expertise to small business owners as well as a subscription to services by the Department of Commerce, website translation fees and participation in training workshops. Small businesses in New Hampshire will be aided in complying with trade regulations, accessing export financing and attending trade missions.
The U.S. Small Business Administration is also providing $1 million in disaster loans to small businesses in Massachusetts affected by tropical storm Irene.
"Small businesses may also benefit from Economic Injury Disaster Loans to help meet their working capital needs as a result of the disaster," said Jeanne Hulit, SBA regional administrator for New England. "These loans are available regardless of whether the business suffered any physical property damage."
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