Rural microentrepreneur loans / grants

 The purpose of RMAP is to support the development and ongoing success of rural microentrepreneurs and
microenterprises (businesses generally with ten employees or fewer and in need of financing in the amount of
$50,000 or less as defined in 7 CFR 4280.302). Assistance provided to rural areas under this program may include the provision of loans and grants to rural Microenterprise Development Organizations (MDOs) for the provision of microloans to rural microenterprises and microentrepreneurs; provision of business-based training and technical assistance to rural microborrowers and potential microborrowers; and other such activities as deemed appropriate by the Secretary to ensure the development and ongoing success of rural microenterprises. See full announcement here.

PA Banks receive funds for small biz capital

Wednesday, September 14, 2011

WASHINGTON, DC- U.S. Senator Bob Casey (D-PA) today announced that three Pennsylvania community banks received $32.1 million through the U.S Treasury Department’s Small Business Lending Fund (SBLF) to help small businesses access capital and create jobs.

“Small businesses are the backbone of our economy,” said Senator Casey. “I urged Treasury to expedite this funding to give community banks an incentive to lend to Pennsylvania small businesses, helping them grow and create jobs.”

The Pennsylvania banks receiving funding as part of today’s announcement include:

• Penn Liberty Financial Corp. (Wayne Pennsylvania) -- $20.0 million
• MileStone Bank (Doylestown, Pennsylvania) -- $5.1 million
• Franklin Security Bancorp, Inc. (Plains, Pennsylvania) -- $7.0 million

There are over 275,000 small businesses in Pennsylvania that employ over 3.2 million people. 

The SBLF was established as part of the Small Business Jobs Act (SBJA), which Senator Casey fought hard to enact and the President signed into law on September 27, 2010. The SBJA encourages community banks to increase their lending to small businesses, helping those companies expand their operations and create new jobs.

The SBLF helps small businesses by providing capital to community banks that hold under $10 billion in assets. The dividend rate a community bank pays on SBLF funding is reduced as that bank increases its lending to small businesses – providing a strong incentive for new lending to small businesses so they can expand and create jobs.

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Sen. Casey introduces bill for Veterans - small biz

Wednesday, September 14, 2011

WASHINGTON, DC— U.S. Senator Bob Casey (D-PA) today re-introduced the Help Veterans Own Franchises Act (S. 1540), a bill that establishes a tax credit for veterans who purchase a franchise.  Congressman Aaron Schock (R-IL) introduced a version of this bill in the House of Representatives.

“Veterans have made innumerable sacrifices in defense of our country, yet despite their training and experience, many are struggling to find employment in today’s labor market,” said Senator Casey. “This important legislation will help ensure veterans who fought for their country do not have to struggle to find a job when their service is complete. Franchises offer our veterans a path toward realizing the dream of small business ownership and stimulate economic growth by cultivating America’s small businesses.”

The bill provides a tax credit to veterans who choose to purchase a franchise and open a business in their local community, equal to 25 percent of the remaining franchise fee. The credit is capped at $100,000.

Startup America

[from Philanthropy News Digest]

Startup America Announces New Partners, Launches Online Platform

Created to fuel job growth by helping young companies expand, theStartup America Partnership has announced the launch of a new online platform and commitments from more than fourteen companies to provide U.S. entrepreneurs resources valued at some $330 million.

After registering to become verified Startup America firms, participating companies can use the platform to access and manage resources. Eligible companies will be designated as either a Startup, for young companies in the development phase; Rampup, for growing companies with at least five employees that already have a product or service being used by customers; or Speedup, for fast-growing businesses with more than twenty-five employees whose growth is being fueled by customer demand. The platform will also help potential investors identify and interact with relevant startup firms.

The new commitments, which boost the total value of resources to some $730 million, include access to online services valued at nearly $40 million from Biz2Credit; special offers from Dell worth up to $120 million; preferred membership rates from FoundersCard valued at more than $7.5 million; one year of free access to IdeaScale's idea management software; Reduced rates for LeadMaster's online, cloud-based customer relationship management software worth more than $36 million; and mentoring, training, and advisory services from the Alternative Board,Vistage International, Entrepreneurs' Organization, and the Young Entrepreneur Council.

"Since our launch at the White House in January, we've been delighted by how the private sector has stepped up and committed resources that will accelerate the growth of America's young companies," said Startup America Partnership CEO Scott Case. "We're excited to now provide direct access to these amazing offerings that will help maximize the success of startups."

“Startup America Partnership Open For Business.” Startup America Press Release 9/13/11.Cohen, Debprah. “Nonprofit Announces $330 Million in Startup Aid.”Reuters 9/13/11.

Advantage Grant Program

The Department of Environmental Protection (Department) announces the availability of grant funding in the seventh year of the Commonwealth's Advantage Grant Program (Program) for small business pollution prevention and energy efficiency projects. Small Business Advantage is a grant program providing up to 50% reimbursement grants, to a maximum of $7,500, to enable a small business in this Commonwealth to adopt or acquire energy efficient or pollution prevention equipment or processes. Well designed energy efficient or pollution prevention projects can help small businesses cut costs and reduce the risk of potential regulatory problems, while simultaneously protecting the environment.

 An eligible applicant must be a for-profit small business owner whose business or facility is located within this Commonwealth. All Commonwealth small businesses are eligible, including but not limited to manufacturers, retailers, service providers, mining businesses and agricultural concerns. The project to which the grant will apply must be located within the applicant's Commonwealth facility and save the business at least 25% annually in energy or pollution related expenses plus $1,000.

 For a copy of the application to review the Program's eligibility requirements, contact Rhonda Brown at the Office of External Affairs at (717) 772-8909. To ask a specific question concerning a project type, write to epadvantagegrant@state.pa.us before submitting an application. The Department will continue accepting applications until September 28, 2011, or until funds are exhausted.

  Applications must be postmarked or hand delivered by 4 p.m. on September 28, 2011. Faxes or other electronic submissions will not be accepted. Applications are most quickly obtained from the Department's web site at www.dep.state.pa.us (DEP Keyword: SBAdvantage). Applications are also available by contacting the Department of Environmental Protection, Office of External Affairs, 15th Floor, Rachel Carson State Office Building, 400 Market Street, P. O. Box 8772, Harrisburg, PA 17105-8772, (717) 772-8909. The application package contains the materials and instructions necessary for applying for a grant.

MICHAEL L. KRANCER, 
Secretary

[Pa.B. Doc. No. 11-1561. Filed for public inspection September 9, 2011, 9:00 a.m.]