How to Get a D-U-N-S® Number from Dun & Bradstreet
Credit is the lifeblood of business, and establishing good credit is vital to business viability. To establish credit for your business, and make managing credit easier, you should obtain a Data Universal Number System (D-U-N-S®) number from Dun & Bradstreet.
To apply for a DUNS number, go to http://www.dandb.com/free-duns-number/. If you are unsure whether your business has a DUNS number call 800-700-2733 first.
See this article on SBA's site and this article on Dun & Bradstreet for more on obtaining a DUNS number.
On-Line Government Contracting Training Early August 2014
7(j) Management and Technical Assistance Program
One of the SBA Administrator's major strategic goals is to strengthen the Agency's entrepreneurial education, counseling and training resources to support the needs of existing businesses by successfully focusing on core program resources and ensuring these resources are aligned with the needs of high-growth small businesses.
With that in mind, the U.S. Small Business Administration will be offering On-Line Government Contracting Training in early August 2014.
Click here to see the flyer with more information on the early August on-line, instructor-led training.
Firms will be required to self-certify their eligibility to receive 7(j) services during the registration process. If they do not self-certify, their registration will be disapproved.
SBA Approval of Recoverable Expenses on 7(a) Loans
SBA announced a change to Standard Operating Procedure (SOP) 50 57 (7(a) Loan Servicing and Liquidation), which modifies the time periods when lenders may submit requests for approval of Recoverable Expenses, including those deducted from recoveries, on 7(a) Loans.
Read more...
SOP 50 10 5(F) update – 7(a) Loan Program Credit Standards
The U.S. Small Business Administration (SBA) announced on June 12, 2014 revisions to Standard Operating Procedure (SOP) 50 10 5(F) applicable to the credit standards for 7(a) Small Loans (except SBA Express and Export Express) and related requirements. SBA is reducing duplicative requirements for 7(a) Small Loans in the continuing effort to streamline and reduce costs of delivery for SBA's 7(a) loan program.
Read more...
"Good Question"
Q. What is the minimum SBA loan amount?
A. We don't have a minimum SBA loan amount. The smallest SBA loan amounts I have seen are $5,000.
Have a "Good Question?" Email it to Sam Dickey (sam.dickey@sba.gov) with "good question" in the subject line and he'll address it in a future column!
Region X Lender Training Conference Call
(Alaska, Idaho, Oregon, & Washington)
Training day comining soon... Stay tuned.
Questions? - Call Nelida Irvine at 907-271-4027 (nelida.irvine@sba.gov)
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