Small Business Administration Archives

Corbel Capital Closes New Equity Fund in the Lower Middle Market

Corbel Capital Partners, a private investment firm providing capital to lower middle market companies, closed Corbel Equity Partners SBIC (CEP III). With over $200 million in capital commitments, CEP III is another partnership with the Small Business Administration.

October 18, 2024 CEP III | Corbel Capital Partners | Corbel Equity Partners SBIC | Jeff Schwartz | Small Business Administration Brianna Wilson

Inside The Small Business Administration’s New Working Capital Pilot Program

The SBA has launched a new Working Capital Pilot Program. Representatives from the SBA discuss the program’s origin and development, lender and borrower requirements, and how the program will bring new lenders to the ABL market while complementing the product offerings of existing ABL and working capital lenders.

Small Business Administration Approves $175MM in Growth Capital to Saratoga Investment

Saratoga Investment, a business development company, received notification from the Small Business Administration that the company’s application for a third Small Business Investment Company (SBIC) license has been approved.

October 3, 2022 Christian L. Oberbeck | Saratoga Investment | Small Business Administration Ian Koplin

Northeast Bank Sells $1.65B in Funded PPP Loans to Loan Source

Northeast Bank entered into a loan purchase and sale agreement with The Loan Source to sell all loans originated by the bank under the current round of the Small Business Administration’s Paycheck Protection Program.

SBA Extends COVID-19 EIDL Application Deadline to Dec. 31, 2021

The U.S. Small Business Administration extended the deadline to apply for the Economic Injury Disaster Loan (EIDL) program for the COVID-19 pandemic disaster declaration to Dec. 31, 2021. The deadline extension comes as a result of the recent COVID-19 relief bill.

January 4, 2021 Economic Injury Disaster Loan | Jovita Carranza | Small Business Administration Phil Neuffer

ABI Requests Bankruptcy Debtors Remain Eligible for PPP in Letter to Congress

The American Bankruptcy Institute wrote to Congress formally requesting that debtors who have filed bankruptcy cases remain eligible for Paycheck Protection Program loans, notwithstanding their respective bankruptcy filings, in any future amendments or legislation addressing PPP funding.

December 17, 2020 American Bankruptcy Institute | Amy Quackenboss | Small Business Administration Phil Neuffer

SBA Provides $28B Through Traditional Programs, PPP Delivers $525MM

The U.S. Small Business Administration provided fiscal year 2020 summary loan data, reporting that loans guaranteed through traditional SBA lending programs exceeded $28 billion while the Paycheck Protection Program provided an additional $525 million.

November 5, 2020 Donald DeFosset III | James Rivera | Jovita Carranza | Small Business Administration | William Manger ABF Journal

U.S. SBA Names Spell Capital Mezzanine SBIC of the Year

The U.S. Small Business Administration named Spell Capital Mezzanine SBIC Partners II of Minneapolis the 2020 Small Business Investment Company of the Year as part of National Small Business Week.

September 17, 2020 National Small Business Week | Small Business Administration | Spell Capital Mezzanine | Spell Capital Mezzanine SBIC Partners II | Spell Capital Partners Rita Garwood

SBA Gives ‘Green Light’ for Hercules Capital’s Third SBIC Application

The U.S. Small Business Administration issued a “green light” or “go forth” letter inviting Hercules Capital to finalize its application process to obtain a license to form and operate a third small business investment company subsidiary.

June 8, 2020 Hercules Capital | Scott Bluestein | Small Business Administration Phil Neuffer

Uncertainty Surrounds Bankruptcy Debtors’ Access to Paycheck Protection Program

Companies in bankruptcy do not have access to the Paycheck Protection Program, at least according to the letter of the law. However, the issue has become less clear as illustrated by the decisions in In re Hidalgo and In re Cosi Inc. Howard M. Berkower and Franklin Barbosa Jr. of McCarter & English take a closer look at those decisions and how their inconsistencies muddy the waters.

Tag Archives: Small Business Administration