SBA Expands Eligibility for 7(a) Loans

The SBA is expanding eligibility for its 7(a) loan programs. This means more small businesses will be eligible for U.S. Small Business Administration-backed loans, resulting in greater access to much-needed capital in this tough economy. SBA’s alternate size standard for its 7(a) loan program will go into effect early next week through Sept. 30, 2010. Learn more about the changes HERE.

Interesting Social Media Application for Small Businesses

Learned about another new social media application today called “Loopt” that is specifically designed for use on GPS-enabled mobile phones and then conveys the information to other social media applications. Seems to have some very interesting features that have potential to help users drive income if used effectively. Found a great article from one small business user putting it to use in her real estate business. See the article HERE.