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SBA Pilots Program to Help Rural, Inner City Businesses

The Small Business Administration has launched a pilot program to provide financial assistance to small businesses in economically distressed urban and rural areas, or "New Markets," that need the economic attention to get communities back on their feet.

By Staff Writer | Updated on November 07, 2006

WASHINGTON — The Small Business Administration has launched a pilot program to provide financial assistance to small businesses in economically distressed urban and rural areas, or “New Markets,” that need the economic attention to get communities back on their feet.

The New Markets Lending Initiative aims to help small businesses by enabling Community Development Entities to combine the benefits of both the New Markets Tax Credit Program and SBA-guaranteed loans to provide inner city and rural small business owners and entrepreneurs’ greater access to financing and business training. The initiative also provides incentives for commercial lenders and local development organizations to make more SBA-guaranteed loans in these communities.

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