Saturday, November 2, 2019

SBA supports veterans through programs and services - Beckley Register-Herald

SBA supports veterans through programs and services - Beckley Register-Herald


SBA supports veterans through programs and services - Beckley Register-Herald

Posted: 01 Nov 2019 05:02 PM PDT

The U.S. Small Business Administration celebrates National Veterans Small Business Week Nov. 4-8 in a run-up to Veterans Day.

In its part to support these brave men and women, the SBA and its partner organizations empower veterans and their family members by equipping them with business counseling, training, access to capital and contracting opportunities.

Veterans are integral to the growth of America's small businesses, the SBA noted in a press release. Veteran-owned businesses in the United States employ five million workers and generate $1.1 trillion in receipts. Numbers like these reflect an economic power in veterans that cannot be ignored.

President Donald Trump showed his dedication to small businesses and veterans by donating his second-quarter salary to the SBA to help the nation's veterans transition from military service to entrepreneurship. The funds helped SBA create an intensive entrepreneur training program specifically for veterans.

That manifested itself in a pilot 26-week program in which participants are currently taking part, featuring peer-to-peer mentoring and a course curriculum that includes strategic planning, financial management, cash flow forecasting, marketing the small business, sales methods, human resources, developing a growth plan, access to capital, legal issues, and government contracting.

To learn more about other SBA veterans programs and resources, visit www.sba.gov/vets or www.sba.gov/vetbiz or contact your local SBA district office to find out about various events.

SBA in Houston guaranteed $1B in loans, bonds to small businesses - Houston Chronicle

Posted: 01 Nov 2019 02:00 AM PDT

The Small Business Administration's Houston office guaranteed $1 billion in loans and bonds to 1,512 small businesses during the fiscal year that ended Sept. 30.

That's down from the $1.1 billion guaranteed last year. The SBA does not make the loans itself but instead guarantees bank loans.

More banking news: BBVA pledges $15B to community development, reports uptick in Q3 earnings

"The Small Business Administration offers various programs that help banks provide access to capital for businesses of all size, industry and objective," Courtney McClendon, senior vice president and SBA manager at Plains State Bank, said in a news release.

Based on dollar amount, Plains State Bank was the top lender of the SBA flagship 7(a) loan. It lent $48 million in the Houston area. Wells Fargo placed second with $42 million, and Live Oak Banking Co. came in third with $37 million.

Based on number of loans, Wells Fargo placed No. 1 by originating 133 of these 7(a) loans in the Houston area. Chase came in second with 93 loans and Zions Bank was third with 48 loans.

Columbia Bank Named Top Small Business Administration Lender In Oregon For Second Consecutive Year - NBC Right Now

Posted: 29 Oct 2019 11:00 AM PDT

TACOMA, Wash., Oct. 29, 2019 /PRNewswire/ -- For the second year in a row, Columbia Bank was recognized as the leading Small Business Administration (SBA) lender by the SBA Portland District Office, which covers 30 of 36 counties in Oregon and four counties in Southwest Washington.

Columbia Bank also moved up two spots from a year earlier to become the number three ranked SBA lender in the Seattle District Office's region, which spans the vast majority of Washington.

The rankings cover the federal fiscal year that ended Sept. 30 and are based on the number of loans made by each bank during the period. In fiscal 2019, Columbia Bank made a company record 186 SBA loans in the region covered by the Portland office. That was up from 171 a year earlier.

In the Seattle District's region, Columbia Bank made 132 SBA loans in fiscal 2019, up from 77 the previous year.

Clint Stein, Columbia Bank's chief operating officer commented, "Over the past two years, we have ramped up our commitment to small businesses, and increased SBA lending has played a vital role in our efforts. Small businesses help drive employment growth and function as important engines of economic activity in the Northwest, and Columbia Bank is a dedicated partner with these companies."

Scott Bossom, senior vice president and manager of Columbia's SBA program, said the growth is part of a concerted effort to establish Columbia Bank as the premier SBA lender in the Northwest.

"A lot of banks have historically viewed small business loans as, candidly, too small to worry about," Bossom said. "We take a very different view. We aim to build long-term relationships with all of our customers, and we know that when we help small businesses get started or make expansions, we are deepening ties with those customers and playing an important role in growing communities across the Northwest."

"We work across a range of sectors and with companies of varying credit needs," Bossom said. "Columbia Bank offers everything from our $5,000 Express Line of Credit all the way up to the SBA's cap of $5 million loans. We have a genuinely engaged team that continues to build strong momentum, generate excitement and help establish Columbia as the first destination for small businesses across the Northwest."

About Columbia
Headquartered in Tacoma, Washington, Columbia Banking System, Inc. (NASDAQ: COLB) is the holding company of Columbia Bank, a Washington state-chartered full-service commercial bank with locations throughout Washington, Oregon and Idaho. For the 13th consecutive year, the bank was named in 2019 as one of Puget Sound Business Journal's "Washington's Best Workplaces," and for the 8th consecutive year, Columbia has been ranked as one of the nation's best banks by Forbes. More information about Columbia can be found on its website at www.columbiabank.com

Media Contact:
Marla Kertzman
Financial Profiles, Inc.
(209) 852-9027
tross@finprofiles.com

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