Ron Johnson of the SBA is the interviewer and the interviewee is Jim Hammersely.

Some highlights:

Ron Johnson: What is this 7A loan program?

Jim Hammersley: The 7A loan program is a program where SBA puts a federal guarantee on a loan made by a private sector lender, typically a bank, to a qualifying small business.  The purpose of the guarantee is to encourage the lender to make a loan to a small business that would not quite qualify under their conventional standards but has a viable business and a well-thought out business plan.

***************************

Financing a Small Business

Many new business owners don’t have the money to begin or grow their new New Jersey business. Funding is necessary so they turn to family, friends, VC’s, and small business loans. This short podcast talks a little bit about how to go about finding the money to fund your new business.

( Transcript)

If you have any experiences you want to share about financing your small New Jersey business with help from the SBA please leave your story in the comments section below. Thanks!

Highlights from the podcast:

Ron Johnson: Now can I qualify for a loan if I’m just
starting a business?

Eric Zarnikow: You know, one of the things SBA does, and
a lot of our partial government guarantees actually go to
support a start up business. So SBA loan programs are
available for both start up businesses as well as established
businesses. The business does need to be organized for profit.
It needs to meet our size standards, and it needs to be a small
business. And we’re really focused on helping access to
capital for businesses that can’t get capital through
conventional lending channels, so we’re actually broadening the
access to capital for small businesses. In the end, it needs
to be a creditworthy small business. You’ll need to work with
a lending partner as part of getting a loan that’s backed by
the SBA, but there are resources that are available to people
who are just starting a business.

***************************

Loan Program Changes Helping Small Businesses

This audio interview is of Ron Johnson interviewing Eric Zarnikow, Associate Administrator of SBA’s Office of Capital Access

Need financing in these tough times? The new changes at the SBA’s biggest loan program can possibly be of some assistance to you.

( Transcript)

If disaster strikes your New Jersey business – you’ll find out what to do to cover yourself and take the sting out of it.

Quote from the podcast:

Ron Johnson: What is SBA’s role when a disaster is declared?

James Rivera: SBA’s Office of Disaster Assistance provides low-interest loans to help disaster victims repair or replace personal or physical property not covered by insurance. Often, individuals and businesses are uninsured or underinsured. When losses are suffered, SBA can make loans to homeowners, renters, and businesses.

Ron Johnson: So James, what types of disaster assistance loans are available from the SBA?

**************

James Rivera: For homeowners and renters, SBA can make loans to repair or replace personal property, items such as clothing, furniture, cars, or appliances damaged or destroyed by the disaster. Homeowners that sustain damage to the real estate may also receive a loan to repair or replace their primary residence. For businesses and nonprofits, we have two types of loans available. Physical disaster loans can be used to repair or replace items such as damaged real estate, machinery and equipment, inventory and furniture and fixtures, et cetera, and we also have an economic injury disaster loan to pay for fixed operating expenses or in other words, a working capital loan to pay for rent or electricity that would have been paid had the disaster not occurred.

****************

SBA Provides Disaster Assistance to Homeowners, Renters, Businesses

( Transcript)

If you have any experience with using the SBA for your New Jersey (or other state) business disaster assistance feel free to leave comments about it below.