On March 28, the Women In Business Committee heard a dynamic presentation about how to access loans from the Small Business Administration (SBA). David Benavides and Bob Martin, Lender Relations Specialists, and Eric Phillips, Economic Development Specialist, also provided information about how vital small businesses are to Colorado’s economy.
They went into depth about how the SBA is able to offer financial assistance to companies, by providing 14 loan programs for start-up and existing businesses, for up to $5 million, including an SBA Guarantee Loan Program. By contacting the SBA, companies are provided resources they might have thought were available, to grow their business. These loans can be used for infrastructure, appliances, equipment, inventory, and all capital needs. The professionals at the SBA can work to determine exactly what loan will be best for your business.
A topic that struck home with the audience is the percentage of women-owned businesses. Women still only receive about 30 percent of the loans and own approximately 31 percent of the businesses in the area. The speakers provided hand-out information about Women-owned Federal Contracts and how women entrepreneurs are driving growth and innovation.
The SBA offers counseling, online and in person training, government contracting, access to capital, and disaster assistance. There are also other business outlets that the SBA partners with, such as the SCORE business Counselors to America, Small Business Development Center (SBDC), and the Women’s Business Center.
The SBA has a sub-branch called the Women’s Business Center (WBC) which offers women entrepreneurs, especially those who are economically or socially disadvantaged, training and counseling on an array of topics that will prove them the knowledge to have their business succeed.
The SBA has an office at 15151 E. Alameda Parkway, Aurora, CO 80012. (303) 362 8690.