As the Small Business Administration closed out it’s 2018 fiscal year, a total of 3,043 small business loans have been guaranteed to small businesses throughout “The World’s Borough,” Long Island, and the Lower Hudson Valley.
According to the Times Ledger, SBA New York District Director Beth Goldberg’s focus is on increasing SBA lenders in rural and historically underutilized business zones. Additionally, the SBA will educate business owners on the SBA’s 504 loan—a program that provides approved business owners with long-term, fixed-rate financing that allows them to purchase existing buildings, land, and long-term machinery, or cover building renovation costs for as little as 10 percent down.
“We are really focused on delivering our loan guarantees to historically underutilized business zones in the coming fiscal year,” Goldberg said. “Increasing the number of SBA lenders in these areas and getting more lenders connected to SBA’s Lender Match tool will facilitate these connections for both the small business owner and the small business lender.”
