Saturday, March 9, 2019

small business administration

small business administration


America's small businesses are in good hands with SBA Administrator Linda McMahon - Log Cabin Democrat

Posted: 03 Mar 2019 12:00 AM PST

The diversity of our booming economy and the innovation of America's small business owners are proof that the entrepreneurial spirit of this country is alive and well. America's 30 million small businesses are in capable hands with U.S. Small Business Administrator Linda McMahon who recently wrapped up a two-year Ignite Tour, visiting all 68 SBA district offices and meeting with more than 800 entrepreneurs across the country.

When President Trump appointed Administrator McMahon to serve on his Cabinet and lead the SBA, one of her first priorities was to get out of Washington and travel to every SBA district office to understand how SBA's programs and services are delivered to our small business communities.

The administrator witnessed the efficiency and effectiveness of the dedicated and hardworking staff in each field office. She heard directly from small business owners and entrepreneurs about their many successes and challenges. The overall tone of the meetings was one of consensus building and collaboration between her and the small business owners and community leaders she met with. In addition to meeting with agency staff and speaking to entrepreneurs, Administrator McMahon also interviewed with television, radio and newspapers across the country to promote the message of SBA. She says continually that the SBA should be a household word and no longer a "best kept secret."

It is refreshing to see this kind of leadership coming out of Washington DC. I was able to accompany the Administrator on a few visits to multiple locations throughout my five state region. At every visit, the administrator showed a genuine interest and passion for the people she met with and the issues or successes they conveyed to her. Part of Administrator McMahon's mission is to relay small businesses' unique needs to Congress and the President.

In the last two years SBA programs have supported the growth of more than 1.2 million jobs nationwide. In the states of Arkansas, Louisiana, New Mexico, Oklahoma and Texas SBA's programs and services are helping to support more than 144,300 jobs.

The people I met on these Ignite tour stops reinforced to me that the SBA plays a critical role in supporting our nation's economy and the lives of many small business owners. Every business and every industry in each state revealed its own unique needs. With consumer optimism reaching all-time highs, more small businesses and entrepreneurs are relying on the programs and services available through the SBA.

For example:

1. Access to Federal Contracts. The SBA also plays a major role in connecting small businesses with federal contracting opportunities. In my region, small businesses have been awarded nearly $21.5 billion in federal contracts in over the last two years.

2. Access to Technical Know-how. The SBA powers a network of counselors who provide technical expertise to those looking to start or grow a business. Our Resource Partners which include Small Business Development Centers, Women Business Centers, Veteran Business Outreach Centers and SCORE Counselors to America's Small Businesses provide incubator opportunities, mentoring, and specialized services for veteran, woman- and minority-owned businesses. Across the nation, these resource partners served more than 1.8 million people.

3. Disaster Recovery. Finally, when a disaster strikes, the SBA offers direct recovery assistance that can lift entire communities including large businesses, homeowners and nonprofit organizations. In Region 6, SBA processed more than 68,800 disaster loans under the Trump Administration that will inject nearly $5 billion into disaster affected communities, across the five-state region.

I am honored to serve with Administrator McMahon and especially honored to serve the small business communities in New Mexico, Texas, Oklahoma, Arkansas, and Louisiana. A strong leader at the SBA is good for business, especially small businesses located in rural areas. It remains true that small business continues to drive our nation's economy. For more information on SBA's programs and services please visit www.sba.gov , and remember to follow us on Twitter @SBASouthCentral.

(Justin Crossie is the regional administrator of the U.S. Small Business Administration's South Central Region which includes Arkansas, Louisiana, New Mexico, Oklahoma and Texas.)

Former SBA Administrator to Join Fintech Firm Numerated - Banker & Tradesman

Posted: 08 Mar 2019 08:54 AM PST


The former head of the U.S. Small Business Administration is joining the Boston fintech firm Numerated.

The company announced yesterday that Karen Mills has joined the company as an investor and advisor. Having been an investor and business owner of companies ranging from manufacturing, food production and service-enabled technology, Mills is a leading authority on U.S. competitiveness, entrepreneurship and innovation.

She was the administrator of the U.S. Small Business Administration from 2009 to 2013, where she managed a loan guarantee portfolio of more than $100 billion and led the agency's economic recovery efforts in the wake of the Great Recession.

"Technology has the power to help business owners better understand their business cycle and transform how they access the capital they need, when they need it," Mills said in a statement. "The innovation Numerated brings to its partnership with banks positions lenders to meet these needs and help businesses maximize their opportunities in this fast-moving economy."

Numerated's real-time lending and growth platform helps banks and credit unions digitally transform their business lending operations. Local bankers and branches are armed with actionable business intelligence to have proactive conversations with businesses, and businesses can secure loans or lines of credit from their local bank in as few as three minutes.

"Karen shares in our belief that technology can create greater opportunity and more effective partnerships between small businesses and the financial institutions who serve them," Dan O'Malley, founder and CEO of Numerated, said in a statement. "We're grateful to tap into her decades of experience in understanding the intertwined roles banks and businesses play in growing local economies across America,"

Mills is a senior fellow at the Harvard Business School and the author of the forthcoming book "Fintech, Small Business & the American Dream: How Technology is Transforming Lending and Shaping a New Era of Small Business Opportunity."

Mills discusses Numerated in her book including the story of the technology's initial development within and for $11 billion asset Eastern Bank and as an example of how data, automation and artificial intelligence are being used to evaluate the credit worthiness of businesses.

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Numerated Welcomes Karen Mills, Former Head of the Small Business Administration, as Investor and Advisor - Business Wire

Posted: 07 Mar 2019 06:20 AM PST

BOSTON--()--Numerated, the financial technology company powering the digital transformation of business lending at banks, announced today that Karen G. Mills has joined as an investor and advisor.

Having been an investor and business owner of companies ranging from manufacturing, food production and service-enabled technology, Karen is a leading authority on U.S. competitiveness, entrepreneurship and innovation. She served in President Barack Obama's Cabinet as the Administrator of the U.S. Small Business Administration (SBA) from 2009 to 2013, where she managed a loan guarantee portfolio of more than $100 billion and led the agency's economic recovery efforts in the wake of the Great Recession.

"Technology has the power to help business owners better understand their business cycle and transform how they access the capital they need, when they need it," Karen said. "The innovation Numerated brings to its partnership with banks positions lenders to meet these needs and help businesses maximize their opportunities in this fast-moving economy."

Numerated's real-time lending and growth platform helps banks and credit unions digitally transform to become the most attractive business banks in their communities. Local bankers and branches are armed with actionable business intelligence to have proactive conversations with businesses, and businesses can secure loans or lines of credit from their local bank in as few as three minutes.

"Karen shares in our belief that technology can create greater opportunity and more effective partnerships between small businesses and the financial institutions who serve them. We're grateful to tap into her decades of experience in understanding the intertwined roles banks and businesses play in growing local economies across America," shared Dan O'Malley, founder and CEO of Numerated.

Karen is a Senior Fellow at the Harvard Business School, and the author of the forthcoming book Fintech, Small Business & the American Dream: How Technology is Transforming Lending and Shaping a New Era of Small Business Opportunity (March 2019, Palgrave Macmillan).

Karen discusses Numerated in her book, including the story of the technology's initial development within and for $11B Eastern Bank and as an example of how data, automation, and artificial intelligence are being used to evaluate the credit worthiness of businesses.

Karen and Dan will speak together at Barlow Research's 2019 Business Banking Conference in Chicago on Tuesday, May 21, 2019. Here they will discuss the opportunity for banks and credit unions to leverage technology to attract and deepen relationships with businesses.

About Numerated

Numerated powers the digital transformation of business lending at banks and credit unions. Numerated's end-to-end platform profitably grows business loan portfolios through a powerful combination of real-time lending customer experience, automated credit decisioning, and modern marketing and sales tools that empower relationship bankers and attract businesses.

Backed by leading fintech investors, including Venrock and FIS, Numerated is the chosen platform of banks focused on being leaders in business banking within their markets. Learn more at www.numerated.com.

Camp Fire disaster help changes location, form - Chico Enterprise-Record

Posted: 08 Mar 2019 01:43 PM PST

CHICO — Saturday is the last day of operation for the Disaster Recovery Center at the Chico Mall, however Butte County is stepping up with additional services for Camp Fire victims.

Located in the former Sears building, the disaster center opened to offer relief to the victims of the Camp Fire not long after the fire started on Nov. 8.

An array of services and supportive programs had a presence at the center, which served as a focal point for assistance in Chico. There have been other centers operating in Oroville and Paradise as well that have closed.

The Chico Mall center will close at 6 p.m. Saturday, but some services will still be available.

Case managers

Butte County is helping provide case managers who can provide more help to individuals. Called Immediate Disaster Case Management, the services provide individuals with help and guidance over unmet needs, appeals and other forms of assistance.

According to a press release, funding through a partnership with the Administration for Children and Families, case managers are now available at the Butte County Employment Center, 24455 Carmichael Dr. from 8 a.m. to 5 p.m. Monday through Friday.

Case managers can help assess individual and family disaster-caused unmet needs, develop a recovery plan, and link disaster survivors to resources and programs that can help with recovery.

The case managers can help connect individuals to resources such as behavioral health, child and youth services, employment, financial assistance, clothing, durable medical equipment, food, housing, legal resources, senior services, transportation, furniture and appliances, according to the county.

SBA

The U.S. Small Business Administration booth will move to St. John's Episcopal Church, 2341 Floral Ave., starting Tuesday. Its hours will be 9 a.m. to 5:30 p.m. Tuesday through Saturday.

According to an SBA press release, the deadline to apply for a loan for property damage has passed. However, small businesses, small agricultural cooperatives, small businesses in aquaculture, and most private nonprofit organizations still have until Aug. 12 to apply for an economic injury disaster loan for working capital.

These loans are for operations that have not had direct physical impact from the fire, but are suffering from bottom-line economic impact.

Loan information is available at the new center as well as online at https://diasterloan.sba.gov/ela.

Butte 211

Camp Fire survivors can also call the phone number 211 in Butte County for additional information and resources. Affiliated with the county, calls to this line are handled by individuals who are familiar with the network of services and programs.

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