Post by bot on Mar 31, 2012 7:15:22 GMT -5
OMAHA – Nebraska’s small businesses manufacturers are getting the financing they need to expand and add jobs in the state, according to the U.S. Small Business Administration’s Nebraska District Office.
Since Oct. 1, 2010, 53 SBA guaranteed loans have been made to small manufacturing firms across the state, from a pet food manufacturer in Alliance to a plastics firm in Cozad to a lawn mower manufacturer in Omaha, and all places in between, for a total loan volume of $17 million.
As a direct result of SBA financing, these small business are creating 182 new, high-paying manufacturing jobs, and keeping 562 jobs in the state.
Already in the second quarter of Fiscal 2012, which ends March 31, the number of SBA-backed loans to small manufacturing firms has nearly doubled from over the previous three months.
“Over the last year and a half, the growth in manufacturing jobs Nebraska due directly to SBA loan approvals is encouraging,” said Leon Milobar, district director of the Nebraska District Office. “These small businesses are continuing to create jobs, which in turn encourages consumer spending, and confidence for investing in our state. Since the manufacturing industry was hit especially hard in the recession, we’re seeing this job in activity as a vote of confidence by the lenders across our state willing to lend to these firms to expand operations and refinance debt. As we move forward this year, our goal is to continue to seek ways to drive growth in manufacturing and continue that momentum to spur job creation.”
In economic downturns, SBA guaranteed loans typically become more attractive especially for manufacturing firms because the SBA provides lenders with some cushion for their risks.
SBA-backed loans represent only a small fraction of small business lending overall, but these loans are closely monitored as an indicator of banks' willingness to lend to small businesses.
For more information regarding SBA, please visit our website at: www.sba.gov/ne
Since Oct. 1, 2010, 53 SBA guaranteed loans have been made to small manufacturing firms across the state, from a pet food manufacturer in Alliance to a plastics firm in Cozad to a lawn mower manufacturer in Omaha, and all places in between, for a total loan volume of $17 million.
As a direct result of SBA financing, these small business are creating 182 new, high-paying manufacturing jobs, and keeping 562 jobs in the state.
Already in the second quarter of Fiscal 2012, which ends March 31, the number of SBA-backed loans to small manufacturing firms has nearly doubled from over the previous three months.
“Over the last year and a half, the growth in manufacturing jobs Nebraska due directly to SBA loan approvals is encouraging,” said Leon Milobar, district director of the Nebraska District Office. “These small businesses are continuing to create jobs, which in turn encourages consumer spending, and confidence for investing in our state. Since the manufacturing industry was hit especially hard in the recession, we’re seeing this job in activity as a vote of confidence by the lenders across our state willing to lend to these firms to expand operations and refinance debt. As we move forward this year, our goal is to continue to seek ways to drive growth in manufacturing and continue that momentum to spur job creation.”
In economic downturns, SBA guaranteed loans typically become more attractive especially for manufacturing firms because the SBA provides lenders with some cushion for their risks.
SBA-backed loans represent only a small fraction of small business lending overall, but these loans are closely monitored as an indicator of banks' willingness to lend to small businesses.
For more information regarding SBA, please visit our website at: www.sba.gov/ne