Wisconsin Innovation Network: Learn how to seek SBA-backed loans at April 16 WIN-Northeast meeting in Appleton

Learn how small businesses can take advantage of loans backed by the U.S. Small Business Administration from District Director Eric Ness at the Thursday, April 16, meeting of the Wisconsin Innovation Network Northeast Chapter.

The event will be held at the D J Bordini Center, 5 Systems Drive, near the Fox Valley Technical College campus in Appleton. Registration and networking begin at 4:45 p.m. The cost is $5 for WIN members, $5 for students, $10 for non-members and included with WIN corporate memberships. To register go to: http://www.wisconsintechnologycouncil.com/Events/win/index.aspx?ID=670.

President Obama announced last month the Treasury Department will spend up to $15 billion to boost lending to credit-starved small businesses. Using revised loan guarantee and fee schedules, Treasury will directly purchase up to $15 billion in securities composed of loans backed by the SBA. The money to back the loans would come from the $240 billion already approved by Congress as part of the Troubled Asset Relief Program. The purchases mean banks could sell the loans on the secondary market, thus freeing capital to make more loans.

As district director, Ness is responsible for the delivery of SBA programs throughout Wisconsin. He will discuss how the new rules will help small businesses nationally and in Northeast Wisconsin. He will also explain how companies should apply for an SBA loan. To learn more about SBA in Wisconsin, go to: http://www.sba.gov/localresources/district/wi/

Oshkosh native Jack Heinemann, director of the Wisconsin Security Research Consortium, will also be on hand to explain the benefits of SBIR grants and how to go about applying for and securing them. The WSRC was launched with help from the SBA.

WIN is the membership subsidiary of the Wisconsin Technology Council, the independent, non-profit science and tech policy advisers to the governor and the Legislature. To join WIN, go to http://www.wisconsintechnologycouncil.com or contact Liz Schrum at 608-442-7557, ext. 27 or lschrum@wisconsintechnologycouncil.com.

Gina Leahy

Wisconsin Technology Council

(608) 442-7557

gleahy@wisconsintechnologycouncil.com