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U.S. Small Business Administration Seeks Nominations for Rhode Island Small Business Awards

PROVIDENCE, RI – Nominations are now being accepted by the U.S. Small Business Administration (SBA) for the 2016 Rhode Island Small Business Person of the Year and Exporter of the Year.  Winners will be honored during the Rhode Island Small Business Week celebration in May of 2016.   Nominations are due January 11 at 3:00 p.m. EST either in the portal or at the Rhode Island District Office.

Awards will be presented in 11 categories.  Any individual or organization dedicated to the support of the small business community may submit nominations for these prestigious awards. 

The other awards include: Entrepreneurial Success Award, Jeffrey Butland Family-Owned Business of the Year, SBA Young Entrepreneur of the Year, Small Business Exporter of the Year, Minority Small Business of the Year, Veteran Small Business of the Year, Home-based Small Business of the Year, and Women-Owned Business of the Year, Microenterprise of the Year, and Financial Services Champion of the Year.

The Rhode Island Small Business Person of the Year will also have the opportunity to participate in the National Small Business Week activities and will compete for the National Small Business Person of the Year Award.

Award guidelines and nomination forms are available from the SBA Rhode Island District Office by calling (401) 528-4561, or by e-mailing Providence.RI@SBA.gov.

 

 

U.S. Small Business Administration offers Disaster Assistance

WASHINGTON – In the aftermath of floods, earthquakes, hurricanes, tornadoes, power outages, oil spills, droughts and other calamities that have occurred since 1953, the U.S. Small Business Administration has approved more than two million disaster loans to businesses of all sizes, non-profit organizations, homeowners and renters for a total of $53.8 billion.

“During the past 62 years the SBA has expanded, updated and improved its disaster assistance operation, making it easier for disaster survivors to rebuild their lives and communities,” said SBA Administrator Maria Contreras-Sweet.   “These two million loans demonstrate the tremendous impact SBA’s disaster assistance program has made in terms of saving local jobs and supporting the long-term economic recovery.”

SBA disaster loans are the only form of SBA assistance not limited to small businesses.  The two million loans approved represent the agency’s recovery efforts in the aftermath of the costliest disasters in U.S. history.  Those events included:

  • Hurricane Andrew in 1992 (25,992 loans for $696 million)
  • The Northridge, California earthquake in 1994 (124,262 loans for $4 billion)
  • Hurricanes Katrina, Rita and Wilma in 2005 (160,809 loans for $10.9 billion)
  • Hurricane Sandy in 2012 (36,913 loans for $2.5 billion).

The SBA makes low-interest loans to homeowners, renters and non-farm businesses of all sizes.  Homeowners may borrow up to $200,000 to repair or replace damaged real estate.  Individuals may borrow up to $40,000 to cover losses to personal property.

Non-farm businesses and non-profit organizations of any size may apply for up to $2 million to repair or replace disaster damaged business assets and real estate.  Small businesses and non-profits that suffered economic losses as a result of the declared disaster may apply for a working capital loan of up to $2 million.

More information about SBA’s disaster assistance program is available at www.sba.gov/disasterassistance.

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