Event Explores Important Job Creation Impact of SBA Loans Keynote Address by Senator Mary L. Landrieu (D-LA)
NAGGL is a major host of the 2013 Small Business Lending & Investment Summit on Wednesday in Washington, DC. The event highlights the extensive impact on job creation of small business loans offered through the SBA loan program.
- (1888PressRelease) March 06, 2013 - Stillwater, OK - The National Association of Government Guaranteed Lenders (NAGGL) is a major host of the 2013 Small Business Lending & Investment Summit on Wednesday in Washington, DC. The event highlights the extensive impact on job creation of small business loans offered through the Small Business Administration's (SBA) flagship 7(a) business loan program.
NAGGL president and CEO, Tony Wilkinson said, "the SBA 7(a) program continues to offer many small businesses the best opportunity out there to start or expand their business and to create or maintain jobs. I look forward to this important meeting with a real cross-section of groups working toward the common goal of providing small businesses access to capital." The 7(a) multi-purpose loan program provides eligible small business borrowers capital to start, expand or acquire a business; purchase commercial real estate, machinery, equipment, materials; provides short- and long-term working capital; and offers refinancing of existing debt that is structured on unreasonable terms.
During the Small Business Lending & Investment Summit, NAGGL chairwoman Lynn Ozer, EVP, Susquehanna Bank will discuss how the SBA 7(a) loan program is ideal for providing working capital to Main Street businesses.
The event concludes with a Keynote Address by Senator Mary Landrieu (D-LA, Chair, Senate Committee on Small Business & Entrepreneurship) and a Keynote Q&A with SBA Administrator Karen G. Mills.
ABOUT THE SBA 7(a) BUSINESS LOAN PROGRAM
The SBA 7(a) business loan program is a public-partnership between the Small Business Administration and its participating lenders that deliver the loans to small businesses. The 7(a) multi-purpose loan program provides eligible small business borrowers capital to start, expand or acquire businesses; purchase commercial real estate, machinery, equipment, supplies, materials; provides short- and long-term working capital; and offers refinancing of existing debt that is structured on unreasonable terms.
ABOUT NAGGL
The National Association of Government Guaranteed Lenders (NAGGL) is the trade association for lenders that partner with the Small Business Administration (SBA) to provide credit to small businesses under the SBA's flagship 7(a) loan program. NAGGL represents 790 institutional members. During FY 2012, the 7(a) industry provided over 44,000 loans totaling more than $15.15 billion to the nation's small businesses.
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