SBA Rocky Mountain/Great Northern Plains Region

SBA Rocky Mountain/Great Northern Plains Region

Denver, Colorado 183 followers

SBA works to ignite change and spark action so small businesses can confidently start, grow, expand, or recover.

About us

Created in 1953, the U.S. Small Business Administration (SBA) continues to help small business owners and entrepreneurs pursue the American dream. SBA is the only cabinet-level federal agency fully dedicated to small business and provides counseling, capital, and contracting expertise as the nation’s only go-to resource and voice for small businesses.

Website
www.sba.com
Company size
501-1,000 employees
Headquarters
Denver, Colorado
Founded
1953

Updates

  • Steps entrepreneurs should take when navigating the lending process By Aikta Marcoulier, SBA Regional Administrator   Over the years, one of the most asked questions I get from entrepreneurs is what grants are available for new businesses and how do I get a business loan. Securing business capital can be frustrating and defeating for many individuals that have had the dream of turning their unique idea into a new small business. Grants are mostly non-existent for most startups unless your local community organizations or government agencies offer financial incentives. The agency’s Working Capital Pilot works through existing SBA 7(a) lenders using an innovative structure to give business owners and lenders more affordable loan options and flexibility. These enhancements include transaction-based loans to help businesses fund individual projects and/or orders earlier in the sales cycle. The following are five simple steps entrepreneurs can take to help navigate the lending process. Know your tolerance for financial risk. Starting a new business brings a certain level of inherent risk. There are no guarantees that the business will be successful, or make a profit, in its first few years of existence. This is especially true if you are using personal savings, a 401(k), or a home equity line of credit to fund your venture. Know your level of risk aversion up front and have a plan to counter possible losses.  How much money does it really take to start a business? Unfortunately, most entrepreneurs create revenue projections that are far too optimistic. Many business owners underestimate expenses and establish breakeven timeframes that are too short. Work with an experienced business counselor who can help create revenue projections that are realistic and accurate.   Commercial lenders are literally banking on your future success. Most lenders loan money based on factors such as repayment ability, credit history, and borrower experience. Even a compelling business plan may not overcome a borrower’s poor or marginal credit history. It may take two or three years of actual operations before a new business loan will be based solely on the company’s credit and financial history.   Learn to read and understanding basic financial statements. The income statement, balance sheet, and cash flow statement each tell a different part of the story about a company’s financial condition. Together, they can be used to discover a business’ weaknesses and strengths. Cash flow is the life blood of a business.  A business can be profitable on paper yet fail from a lack of cash flow. Important aspects of cash flow include the timing of accounts payable and receivable, inventory turnover, fixed expense loads, and variable costs. For more information on starting your small business, please visit www.sba.gov and remember to follow us on Twitter (X) @SBArockymtn. (Aikta Marcoulier serves as the SBA’s Regional Administrator in Denver)  

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  • Join SBA Office of the National Ombudsman and the U.S. Treasury Department’s Financial Crimes Enforcement Network (FinCEN) on Wednesday, July, 24 @ 2pm EST to learn more about Beneficial Ownership Information (BOI) reporting requirements that apply to many small businesses. Filing your BOI is simple, secure, and free of charge. Visit Beneficial Ownership Information Reporting | FinCEN.gov for more information. Eventbrite Registration: https://lnkd.in/gHJzf7JB.     

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  • The EDGE Series: Apprenticeships: How to Build Your Talent Pipeline presented by the SBA and Small Business Majority. Date & Time: Jul 24, 2024, 10:00 AM in Mountain Time (US and Canada) Description Recruiting and retaining a strong workforce is one of the top issues facing small business owners today. Apprenticeships are often great ways for small businesses to tap into a skilled workforce and grow their talent pipeline with on site work experience. Join this webinar, featuring invited guest John Colborn from Apprenticeships for America, to learn how apprenticeship programs can help build your talent and create a pipeline to full-time employment. This webinar is part of the “EDGE” series hosted by the Small Business Administration (SBA) and Small Business Majority. Register here: https://lnkd.in/gqD7JEa8

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  • The president’s Investing in America agenda helps thousands of small businesses access investment opportunities By Aika Marcoulier, SBA regional administrator President Biden’s Investing in America agenda (IIA) is delivering generational investments to grow America’s economy, restore competitiveness, tackle climate change, and reshore manufacturing – all while strengthening our small businesses, which are the backbone of our economy. The Investing in America economic agenda has fueled a historic nationwide Small Business Boom, with the first, second, and third strongest years of new business applications on record occurring in President Biden’s first three years in office. New Census data shows that the United States has exceeded 17 million new business applications filed since 2021. The Investing in America agenda refers to four major bi-partisan laws signed and enacted during President Biden’s first three years in office: the American Rescue Plan Act, the Bipartisan Infrastructure Law, the CHIPS and Science Act and the Inflation Reduction Act. Each of the four new laws include major new public investments in our economy and in America’s critical systems. These four laws have set in motion a rebuilding our roads, bridges, airports, strengthening supply chains, upgrading our clean energy and clean water systems, and much more. To help entrepreneurs access the benefits of these four new laws, SBA Administrator Isabel Casillas Guzman made sure small firms have the resources, tools, and know-how to capitalize on vast new federal investments that are available today or in the near future. That’s why the SBA launched its new Investing in America Small Business HUB which is located at www.sba.gov/IIAhub. The Investing in America Small Business Hub will assist entrepreneurs connect to the resources, funding opportunities, and support they need to capitalize on these opportunities and strengthen their businesses. The IIA Small Business Hub includes new technological assistance guides to help entrepreneurs access Investing in America grants, contracts, and market opportunities. It also highlights SBA resources that can help business owners access the capital they need to scale and the certifications they need to qualify for IIA funding. There has never been a better time for entrepreneurs to benefit from historic federal programs that directly benefit our business community. For more information on the Small Business Hub visit www.sba.gov/IIAhub. In addition to the Small Business Hub, entrepreneurs are encouraged to visit SBA’s website at www.sba.gov to learn about other resources available to start, grow, or expand their business. Also, please remember to follow us on Twitter @SBArockymnt. (Aikta Marcoulier serves as the SBA’s Regional Administrator in Denver. She oversees the agency’s programs and services in Colorado, Montana, Utah, North Dakota, South Dakota, and Wyoming)  

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  • The EDGE: Small business resources to tackle childcare. View our most recent webinar on ways to create a robust childcare infrastructure. Business owners are reliant on a robust childcare infrastructure to support their workforce. However, there are currently not enough childcare investments that supplement the needs of small business owners and their employees. Join us as we explore different avenues to support your small business employees through childcare resources to meet your community's and your business's needs. This webinar is part of the “EDGE” series hosted by the Small Business Administration (SBA) and Small Business Majority. View the webinar here. https://lnkd.in/gqbHMD2G

    Welcome! You are invited to join a webinar: The EDGE Series: Small Business Resources to Tackle Childcare. After registering, you will receive a confirmation email about joining the webinar.

    Welcome! You are invited to join a webinar: The EDGE Series: Small Business Resources to Tackle Childcare. After registering, you will receive a confirmation email about joining the webinar.

    us06web.zoom.us

  • We celebrate our Asian American, Native Hawaiian, and Pacific Islander communities By Aikta Marcoulier, Regional Administrator   Each year, we celebrate the Asian American, Native Hawaiian, and Pacific Islander (AA and NHPI) communities, whose ingenuity, grit, and perseverance have pushed our great American experiment forward. I am proud to be a first generation Asian-American with parents who immigrated to this country for the opportunities all Americans enjoy today. My father, who is a trained physician, delivered phonebooks at night while my mother held jobs in a nursing home and cut fabric at a local store. My mother was also a medical resident at the University of Chicago three hours away from her daughters who lived in Iowa. My parents’ dedication and commitment helped make their lifelong dreams of small business ownership a reality.   My mom successfully opened her own private medical practice which brought new challenges of caring for her patients while simultaneously managing the daily functions of a growing business. I learned from her experiences the value of advocating for policies that promote small business growth which create the high paying jobs our cities and towns desperately need. Today, as I look back at my parents’ small business journey, I fully understand the critical importance of supporting our AA and NHPI entrepreneurs.   The president’s Small Business Boom has transformed the nation’s economy and revitalized America’s main streets in both urban and rural communities. More than 17 million new business applications were filed over the last three years – with a record 5.5 million filed in 2023 alone. Under President Biden, the United States has enjoyed the first, second, and third strongest years of business growth in history. One way the SBA is supporting our Asian-American entrepreneurs is through its flagship loan guarantee programs. After declining between 2017 and 2020, SBA loans to AA and NHPI-owned businesses are back on the rise under the Biden-Harris Administration, with total loans approved increasing by 44 percent and gross loan dollars approved rising by 36 percent. Since 2021, federal contracting dollars going to this important demographic have grown substantially – an increase of $4.9 billion.    While Asian American, Native Hawaiians and Pacific Islanders make up only 6.2 percent of the U.S. population, AA and NHPI entrepreneurs own more than 3 million small businesses across the country, employ over 5.2 million people, and generate nearly $1 trillion in revenues each year.   I am proud of my parents’ fortitude and business savvy and feel proud that the SBA is a staunch ally of the AA and NHPI community. For more information on how the SBA can assist your small business visit www.sba.gov and follow us on Twitter @SBArockymtn.   ( Aikta Marcoulier serves as the SBA’s Regional Administrator in Denver. She oversees the agency’s programs and services in CO, MT, ND, SD, UT and WY.)  

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  • Congratulations to the Utah Veteran Business Resource Center for being one of three organizations to receive a grant from the U.S. Small Business Administration to deliver the SBA's Women Veteran Entrepreneurship Program! This grant will support the STRIVE program in Utah. The STRIVE is a 10-week build-your-business course that is tailored to the unique choices women need to make to navigate biases and other situations they face in business.  Find out more about the STRIVE program at https://lnkd.in/eTRUbcdA or contact the SBA Utah District Office for more information.

    Utah Veteran Business Resource Center

    Utah Veteran Business Resource Center

    utahvbrc.org

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