Small Business Administration Loans and Resources for Small Businesses in Barnstable, Massachusetts

Small Business Administration Hosts Event at Barnstable High School to Connect Small Business Owners with Lenders

BARNSTABLE — The Small Business Administration (SBA) played matchmaker Wednesday at Barnstable High School, where local lenders were on hand to talk with small-business owners about accessing capital to start, grow, or expand their businesses.

The event drew nine lenders and 15 organizations that could provide resources to help small businesses get loans. About 200 small businesses registered for the event, according to Robert Nelson, Massachusetts District Director for the SBA.

“There is a small-business boom in Massachusetts,” said Nelson.

He highlighted that 17 million small businesses have started up nationally since the start of the Biden-Harris administration, setting an all-time record. The SBA has been a crucial partner in that growth, offering a variety of loans ranging from $500 to $5.5 million.

Last year, the SBA processed $27.5 billion in 7A loans and $6.4 billion in 504 loans, with Massachusetts seeing $818 million in capital support through various programs. In Barnstable County alone, $35 million in more than 100 loans were made to a variety of businesses.

The event also provided valuable insights on what lenders look for in a small-business owner seeking a loan, including doing due diligence, having a solid business plan, and being transparent about any negatives in their background.

Overall, the event served as a platform for small-business owners to connect with lenders, learn about available resources, and gain valuable tips on securing loans and growing their businesses.

For more information on small business loans and tips, visit the Cape Cod Times website.