ROYAL OAK (WWJ) – U.S. Senator Debbie Stabenow was joined by U.S. small business administrator Karen Mills on Monday to discuss ways small business owners can expand their operations in Michigan.
Mills said that financial issues are one of the major problems that owners encounter when trying to grow their companies. During the discussion, she focused on the fact that small business administration loans are readily available for those in need, despite contrary belief.
“We’ve had over 1,300 small businesses that have received loans just in Wayne, Oakland and Macomb county,” she said.
According to Mills, business consultants are also available at the Small Business Administration free of charge. Their advice can help business owners in numerous ways, including keeping owners in touch with banks who are willing to lend.
“They’re free and they will help you get your business plan credit ready,” Mills said.
Since October 2010, SBA has provided Detroit area small business owners with over $395 million in financing.