Small Business for Sale in Arizona by fny17546

VIEWS: 14 PAGES: 2

More Info
									Arizona District Office

Release Date: March 10, 2009                 Contact: Stephen Hart (520) 620-7042 stephen.hart@sba.gov
Release Number: 031009                       Internet Address: www.sba.gov/az




        Arizona SBA to Host Series of Small Business Workshops Across State on
                 Federal Stimulus Legislation and Debt Management


PHOENIX, AZ – The Arizona District Office of the Small Business Administration will host
workshops across the state to discuss both the small business provisions of the American Recovery and
Reinvestment Act – the recently enacted federal stimulus legislation – and advice on managing a small
business in a contracting economy.

“These workshops are designed to assist small business owners with issues fundamental to their
success,” stated SBA District Director Robert Blaney. “Our goal is to educate Arizona small businesses
about opportunities that will exist as a result of the new legislation, and provide information to assist
them in coping with the increasing challenge of managing a business in a down economy.”

The SBA will host small business meetings explaining the impact of the stimulus package to other
communities in the coming weeks including Tucson, Phoenix, Glendale, Casa Grande, Yuma, Show
Low, Flagstaff, and Lake Havasu City.

The American Recovery and Reinvestment Act provided $730 million to SBA and created a
comprehensive package of tax breaks, financial assistance and market enhancements designed to help
foster entrepreneurship and job creation. Programs to be discussed at the workshop include:

       $375 million for temporary fee reductions or eliminations on SBA loans and increased SBA
        guaranteed shares, up to 90 percent for certain loans
       $255 million for a new loan program to help small businesses meet existing debt payments
       $30 million for expanding SBA‟s Microloan program, enough to finance up to $50 million in
        new lending and $24 million in technical assistance grants to microlenders
       $15 million for expanding SBA‟s Surety Bond Guarantee program
       Small business tax breaks includes accelerated depreciation, extended expensing of capital goods
        purchases, and credits for hiring disadvantaged people
       Small business contracting opportunities including those “shovel ready" in Arizona

Stricter credit standards among lenders and the devaluation of collateral due to falling property values
have significantly challenged many Arizona small business owners who are either trying to service
existing debt or are searching for new loans. Workshop topics will include:
      Managing your business debts
      Requesting a loan modification from your lender
      Requesting an adjustment of your existing loan terms, conditions, or release of collateral
      Seeking new credit or loan in a tight credit market
      What happens if I default on the loan or during a “sale of assets?”
      What should I do if we must close our business?

Workshops will be held at the following locations and times:

       Tucson – March 25 from 6:00 to 8:00 p.m. at the Joel D. Valdez Library located at 101 North
       Stone Ave.

       Yuma – March 26 from 6:30 to 8:30 p.m. at the Yuma Park „N Swap located at 4000 South 4th
       Avenue.

       Sierra Vista – April 2 from 6:30 to 8:30 p.m. at Cochise Community College located at 901 N.
       Colombo Ave. in room 313.

       Phoenix – April 7 from 6:30 to 8:30 p.m. at Phoenix Community College – Osborne Campus in
       the Dome room, located on W. Osborne between 10th and 11th Avenues.

       Casa Grande – April 8 from 6:30 to 8:30 p.m. at Central Arizona College located at 540 N
       Camino Mercado in Suite 1.

       Surprise – April 16 from 6:30 to 8:30 p.m. at the Rio Salado Life Long Learning Center located
       at 12535 Smokey Drive.

       Flagstaff – April 22 from 6:30 to 8:30 p.m. at the W.A. Franke College of Business, Gardner
       Auditorium, Northern Arizona University.

       Show Low – April 28 from 6:30 to 8:30 p.m. at the Northland Pioneer-Ponderosa Center located
       at 1000 W. Deuce of Clubs Blvd.

       Lake Havasu City – May 6 from 6:30 to 8:30 p.m. at Mohave Community College‟s City
       Campus in room 600 located at 1977 Acoma Blvd.

Admission is free but seating is limited. Pre-registration is strongly recommended. To register online,
go to www.sba.gov/az , select the “On-line Registration” link, select “Seminars” from the dropdown
menu. Select “Public Meeting: General Information” and register for the event. Alternatively, attendees
may register by calling 602-745-7200 or by emailing Arizona@sba.gov.

                                                  ###

								
To top