SBA Aims to Get More Credit to Minority Business Owners

Despite not having advertising budget, the local SBA aims to get credit to minority business owners. Check out the to learn more. There are many banks throughout New Jersey that have SBA programs:

“The numbers are good news. Approvals for U.S. Small Business Association lending to African-American-owned businesses for the first four months of fiscal year 2018 have increased by 154 percent, while loan volume has increased by 40 percent. That translates to 132 loans totaling $21 million in New Jersey anticipated this year, up from 85 loans totaling $17.8 million in 2017….And then there’s the number zero, as in the amount of money Titone’s SBA office is allowed to spend on advertising — because the SBA runs on federal dollars…While he’s confident he has the knowledge and the know-how to reach the African-American community, finding ways to get in front of potential applicants remains his toughest job.”

Read: SBA aims to get more credit to minority business owners at ROI-NJ

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