Michael Foutch is the Economic Development Specialist for the Nebraska District Office of the US Small Business Administration.
He says thanks to these loans, almost 650 new jobs were created throughout the state in the third quarter. Foutch says before the recession 30-40% of the businesses that received SBA financing were start ups.
He says now that number is up to just above 50%. Foutch says now is a good time economically to start a small business.
"If you’re interested in buying low and selling high, now is the time to buy low. In a lot of cases, commercial real estate is much cheaper than it has been. If you’re talking about a business owner who’s looking at hiring people, you know, if you want to start a business, hey bring in some employees who believe in your business and they can grow their skills along with you.”
In the third quarter, 28 small business loans went to rural companies, 81 went to urban ones, and 32 went to firms owned by women.
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