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Birmingham SBA sets two workshops for December on small business funding

The U.S. Small Business Administration (SBA) is hosting two workshops in December to provide valuable information for small business owners interested in SBA lending programs and federal contracting opportunities. These events are designed to help small businesses access financial resources and navigate the complexities of working with the federal government.

The first workshop will be held as a webinar on December 10, 2024, from 10:00 a.m. to 12:00 p.m. Participants will receive log-in details via email three days before the session and again the night before. The online format is intended to make the workshop accessible to a broader audience. Those interested can register online at https://forms.office.com/g/sKq0LmzwLT.

The second workshop will be an in-person event on December 12, 2024, also from 10:00 a.m. to 12:00 p.m. This session will take place at 2 North 20th Street, 3rd Floor, in Birmingham, Alabama. Free parking will be available in the deck adjacent to the building, with additional parking on Powell Avenue South. This workshop offers a more interactive opportunity for attendees to engage with SBA representatives and other small business owners. Registration for the inperson event is available at https://forms.office.com/g/bb0SW3095Z.

The workshops will cover several important topics, including insights into the Paycheck Protection Program Direct Forgiveness process and updates on COVID-19 Economic Injury Disaster Loans. Attendees will also learn about doing business with the federal government, including certification programs, socio-economic set-asides, and procurement forecasts. The sessions will explain the steps businesses can take to compete for government contracts and how to access data on federal spending.

A significant portion of the workshops will focus on SBA loan programs, including the 7(a) Loan Program, the 504 Loan Program, and microloans. These programs offer a variety of financial solutions, such as working capital, debt refinancing, and funding for major fixed assets. The 7(a) Loan Program, for example, is the SBA’s most common loan program and provides loans up to $5 million for a range of business needs. Meanwhile, the 504 Loan Program offers longterm, fixed-rate financing for projects that promote business growth and job creation, with loan amounts up to $5.5 million for specific energy-efficient projects.

For small businesses looking to work with lenders, the workshops will provide insight into what lenders typically look for when underwriting a loan. Topics such as credit history, income sources, and business operations will be discussed to help participants better understand the loan application process and improve their chances of securing funding.