Navigating through the SBA’s loan requirements can be confusing. Now there’s help. SBA Ignite is a new initiative.
Small Business Trends contacted Ami Kassar, Chief Executive Officer, MultiFunding LLC, to find out more about SBA Ignite.
“It’s a learning initiative, platform and combination of courses created by MultiFunding,” he says. “SBA Ignite educates small business owners about the SBA and its benefits.”
How SBA Ignite Got Started
Kassar explains, “We are always shocked by the lack of understanding about the SBA. Information needs to be accessible and understandable. And common myths about the program need to be busted.”
He goes on to say traditional SBA loans have benefits that have been amped up in the latest stimulus bill.
“They can be an invaluable tool to help businesses start, survive, and thrive this year,” he says.
How It Works
Here’s how the course, powered by MultiFunding, works.
“People can go to sbaignite.com and choose from live webinars or on demand courses to participate in. The live webinars are every Wednesday at noon,” he says.
These courses work with a business owner’s schedule.
The end goal is to educate a million small business owners about the SBA. Kassar stresses how important these businesses are.
“Small businesses and entrepreneurial ventures create jobs and boost the economy,” he says. “SBA-backed loans help make this happen by offering access to affordable capital.”
Through the initiative, small businesses will learn how the SBA works and what they can use the loans for. They’ll get invaluable information on who is eligible for SBA loans and how to go about getting one.
Kassar points out some other benefits.
“Small businesses will learn all of their funding options,” he says. “Right now, there are tons of savings available through the latest stimulus bill that doesn’t include PPP or EIDL.”
The Paycheck Protection Program (PPP) was introduced as part of the CARES Act. It’s an SBA loan designed to keep employees working. The Economic Injury Disaster Loan Emergency Advance (EIDL) offers emergency relief.
Best of all, there’s no cost for the help.
“SBA Ignite is our gift to the small business community,” Kassar says.
In place of fees, he asks participants to donate to Food Connect. That’s an independent non-profit supporting restaurants, food pantries, meal sites and emergency response centers.
“They have headquarters in our hometown of Philadelphia with a national reach,” he says. “They are doing extraordinary work in communities through the United States.”