• Sen. Allison DeGazon

Sen. DeGazon meets with SBA to address small business needs

Knowing the importance of providing opportunities for small business owners territory-wide, Sen. Allison DeGazon met with Wayne Huddleston, Senior Area Manager of the U.S Small Business Administration to discuss options available to small businesses and entrepreneurs.

During the meeting last week Monday on June 17, DeGazon said there were many who were interested in starting or growing a small business, but lacked information needed to receive funding or the leverage to do so.

“In addition to understanding proper document preparation, there are other important details they need to know. When it is all said and done, the most prevalent problem may be identifying capital and learning how to enter the federal market,” DeGazon said.

One source of information that may be beneficial to entrepreneurs is SBA’s Lender Match Program.

“This program matches businesses to lenders for business financing. There are basic requirements needed to qualify to participate in the program. We are fortunate to have SBA offices in the territory that provide such assistance to qualify for the program,” DeGazon said.

These resources, she said, are important to access capital for businesses and entrepreneurs and there are more like the Lender Match program that are available.

“There are a variety of programs such as the Hub Zone and 8A that directly assist businesses in attaining federal contracts. These types of programs, coupled with a streamlined business process, would greatly assist in the expansion of our small business community and economy,” DeGazon said.

It is the senator’s hope that residents will take advantage of such programs and contact the SBA.

“I encourage those individuals who need financing to start or expand their business to either call the SBA offices to learn more about the program or go online to sba.gov for additional information,” she said.

SBA offices in the territory are located at the Nisky Center in St. Thomas, The Market Place in St. John and at the Sion Farm Shopping Center on St. Croix.

For more information on the Small Business Administration, visit sba.gov

© Sen. Allison DeGazon 33rd Legislature 2020.

1108 King Street, HAmilton House

Christiansted Virgin Islands 00820  

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