• COVID-19 Resources
  • About
  • Subscribe
  • Promotions
  • Advertise
  • Contact Us
  • May 9, 2025

Milwaukee Courier Weekly Newspaper

"THE NEWSPAPER YOU CAN TRUST SINCE 1964"

  • News
  • Editorials
  • Education
  • Urban Business
  • Health
  • Religion
  • Upcoming Events
  • Classifieds

Share:

  • Click to share on Facebook (Opens in new window) Facebook
  • Tweet
  • Click to email a link to a friend (Opens in new window) Email
  • Click to print (Opens in new window) Print

Small Business Administration Footing the Guarantee Fee for Business Owners

April 24, 2015

By Ariele Vaccaro

Eric Ness, District Director for SBA’s Madison and Milwaukee Branches

Eric Ness, District Director for SBA’s Madison and Milwaukee Branches

No one said starting a small business was easy. It’s a risky endeavor. However, there are steps business owners and entrepreneurs can take to minimize the risk of failure.

One of those is to make the most of the resources offered by the Small Business Administration.

Eric Ness is District Director for SBA’s Madison and Milwaukee branches. He outlines the “three C’s” that SBA offers those who seek its help.

Capital: a small business can hardly start up without it. SBA offers loans through local that minimize risk factors.

The payments are smaller because SBA can extend the term in which a loaned is paid. According to Ness, typical lenders give clients three to five years to pay back their loans. SBA can allow up to seven.

That means more expendable income and increased cash flow.

Until the month of September, business owners can take out a loan free of a “guarantee fee”. That fee is two percent of the loan amount. It’s a program SBA has tried before. At the end of it, the organization had covered $729,000 in guarantee fees for its clients.

The second “C” is contracting. According to Ness, nearly a quarter of all federal contracts are specifically for small business to take.

“We’ve seen businesses be very successful with these contracts,” said Shirah Apple, Public Information Officer at SBA.

“Once you have one, you have potential to bring in steady income.”

On May 8, SBA will try to connect its clients with opportunities like those contracts via a networking event. A number of federal agencies, city representatives, Milwaukee’s Housing Authority, Veteran’s Affairs, and a number of other guests will be on hand.

The third “C” is counseling, one of SBA’s unique offerings. Business owners can find counselors at four year universities.

The University of Wisconsin-Milwaukee’s School of Continuing Education offers help through its Small Business Development Center at 161 W. Wisconsin Ave.

Small business owners can receive advice during SBA’s Emerging Leaders program as well.

The 26-week training course, taught by MSOE instructor Gene Wright, will cover how to hire employees, grow in a desired market, financials, marketing, website development, contracting, and a number of other subjects.

At the end of the program, participants will walk away with a growth plan for their own businesses.

A number of small business owners have seen success after seeking out help from SBA.

Apple pointed out Northwest Funeral Chapel, which turned to SBA for help when deciding to expand to a banquet facility. Nisha Group, LLC provides security services around Milwaukee after taking advantage of SBA’s services. It began as a maintenance service.

Able Access Transportation LLC offers transport and assistance to handicapped individuals.

The company took advantage of SBA’s Emerging Leaders course.

To learn more about events and services at SBA, visit its website at https://www.sba.gov/.

Share:

  • Click to share on Facebook (Opens in new window) Facebook
  • Tweet
  • Click to email a link to a friend (Opens in new window) Email
  • Click to print (Opens in new window) Print

Popular Interests In This Article: Ariele Vaccaro, Eric Ness, Money Smart Week, SBA

Read More - Related Articles

  • Financial Resources and Counseling Served up at Small Business Luncheon
  • Concordia DYF Students and Faculty Share Holiday Meal – During School Hours
  • COPD: What is it?
  • Salvation Army Seeking Volunteers for Milwaukee Tradition, Christmas Family Feast
    Salvation Army Seeking Volunteers for Milwaukee Tradition, Christmas Family Feast
  • Report Ranks Cities by Their Commitment to Improving Life for Black Men, Boys
Become Our Fan On Facebook
Find Us On Facebook


Follow Us On X
Follow Us On X

Editorials

Lakeshia Myers
Michelle Bryant
Dr. Kweku Akyirefi Amoasi formerly known as Dr. Ramel Smith

Journalists

Karen Stokes

Topics

Health Care & Wellness
Climate Change
Upcoming Events
Obituaries
Milwaukee NAACP

Politicians

David Crowley
Cavalier Johnson
Marcelia Nicholson
Governor Tony Evers
President Joe Biden
Vice President Kamala Harris
Former President Barack Obama
Gwen Moore
Milele A. Coggs
Spencer Coggs

Classifieds

Job Openings
Bid Requests
Req Proposals
Req Quotations
Apts For Rent

Contact Us

Milwaukee Courier
2003 W. Capitol Dr.
Milwaukee, WI 53206
Ph: 414.449.4860
Fax: 414.906.5383

Copyright © 2025 · Courier Communications | View Privacy Policy | Site built and maintained by Farrell Marketing Technology LLC
We use third-party advertising companies to serve ads when you visit our website. These companies may use information (not including your name, address, email address, or telephone number) about your visits to this and other websites in order to provide advertisements about goods and services of interest to you. If you would like more information about this practice and to know your choices about not having this information used by these companies, click here.