SIERRA VISTA — The Arizona District Office of the Small Business Administration is hosting a workshop in Sierra Vista to discuss both the small-business provisions of the American Recovery and Reinvestment Act — the recently enacted federal stimulus legislation — and advice on managing a small business in a contracting economy.
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This workshop is “designed to assist small -business owners with issues fundamental to their success,” stated SBA District Director Robert Blaney. “Our goal is to educate Arizona small businesses about opportunities that will exist as a result of the new legislation, and provide information to assist them in coping with the increasing challenge of managing a business in a down economy.”
The American Recovery and Reinvestment Act provided $730 million to SBA and created a comprehensive package of tax breaks, financial assistance and market enhancements designed to help foster entrepreneurship and job creation.
Information will be provided on SBA programs, lending and tax incentives.
Stricter credit standards among lenders and the devaluation of collateral due to falling property values have significantly challenged many Arizona small-business owners who are either trying to service existing debt or are searching for new loans.
Other workshop topics will include: managing your business debts; requesting a loan modification from your lender; requesting an adjustment of your existing loan terms, conditions, or release of collateral; seeking new credit or loan in a tight credit market; and what to do if you have to close your business.
Admission is free, but seating is limited. Pre-registration is recommended.
To register online, go to www.sba.gov/az, select the “online registration” link, select “seminars” from the dropdown menu. Select “public meeting: general information” and register for the event. Alternatively, attendees may register by calling (602) 745-7200 or by e-mailing arizona@sba.gov.
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