PS Chamber Asks SBA Administrator About Access to Small Business Loans

Maria Contreras-Sweet, SBA Administrator and Congressman Denny Heck

On Wednesday, Congressman Denny Heck introduced Maria Contreras-Sweet to a group of local business owners and representatives who gathered at the William Factory Small Business Incubator in Tacoma. When asked about the availability of loans to small businesses who have weathered the economic downturn of the past seven years and are looking for resources to grow and create jobs, Administrator Contreras-Sweet suggested the newly launched LINC program (Leveraging Information and Networks to access Capital). It's the first of its kind tool on the federal agency's website that will allow entrepreneurs looking for a small business loan to be matched with a SBA lender within 48 hours. She shared that by directly connecting with prospective borrowers, the agency will be able to provide more guidance and ensure more capital is reaching our nation's entrepreneurs. She acknowledged that across the country, thousands of small business owners are searching for loans for real estate, lines of credit, and equipment financing that will assist them with hiring and growing. The goal is for entrepreneurs with viable business ideas backed by good credit and sound financial planning, to have access to a streamlined process through the SBA for needed capital.

The Chamber is currently working with regional SBA administration to provide local access to SBA advisers and scheduled business presentations at the Chamber office. More information about Small Business Administration is available on their website.

We appreciate Congressman Heck's continuing advocacy for our Puyallup and Sumner businesses and providing our Chamber with the opportunity to access national leaders and federal business resources.

Contreras-Sweet is the 24th and current Administrator of the Small Business Administration which helps both Main Street and high-growth small businesses get access to capital, counseling, federal contracts, disaster assistance and more. She was formerly the executive chairwoman and founder of ProAmerica Bank, a commercial bank focusing on small to mid-sized businesses with a specialty in the Latino community. Born in Guadalajara, Mexico, Contreras-Sweet immigrated to Los Angeles, California and has since been involved in both the private sector founding a private equity firm and in public service as the California Secretary of Business, Transportation, and Housing under Governor Gray Davis. On January 15, 2014, she was nominated by President Barack Obama to join his Cabinet as head of the Small Business Administration. She was confirmed as the Administrator of the SBA by voice vote on March 27, 2014. She assumed the role of her position on April 7, 2014.

Calvin W. Goings, pictured above, now serves as the Regional Administrator leading SBA's economic development efforts in the Pacific Northwest states of Washington, Oregon, Idaho and Alaska. Goings is a well known community leader in Puyallup and Pierce County, has made various appearances at Chamber events and contributes to our ePulse publication on a regular basis.