Good news this month from the Wisconsin District of U.S. Small Business Administration: The state’s small businesses accessed $564 million in capital via various SBA loan programs in fiscal year 2019, which ended Sept. 30.
Across the nation, the federal agency backed more than $28 billion in loans to entrepreneurs who, without the SBA, would otherwise be unable to access loans at reasonable rates.
In Wisconsin, what does that look like? 1,329 loans, including 80 microloans. Of note was a rise in SBA 504 loans that help small businesses get long-term, fixed-interest capital to acquire fixed assets such as real estate, additional machinery, equipment and construction efforts.
The SBDC is funded in part by the SBA, so we are a proud resource partner and here to help you with any of your financing needs.