06/16/2009 Lawton announces SBA loans for Eau Claire and Madison small businesses
6/19/2009
06/16/2009 Lawton announces SBA loans for Eau Claire and Madison small businesses
June 16, 2009
Lt. Governor Lawton and the Small Business Administration (SBA) visited Eau Claire and Madison businesses on Tuesday to announce the availability of new tools to ease the credit crunch and access capital.
Lt. Governor Lawton traveled to Eau Claire business PM Sleep Center Tuesday morning to join owner Mike Bloss, who received an SBA 504 loan with its $19,000 fee waived. The loan enabled Bloss to change locations, double his business in the first three months and hire three new employees.
Left) Lt. Governor Lawton, PM Sleep Center owner Mike Bloss and employees
“Things are going really well for us now,” Bloss said. “Because we were able to access this loan we have moved locations and doubled our business. We also were able to rehire an employee we recently had to lay off and hire two additional employees.”
The expanded SBA programs allow small businesses to access capital at cheaper rates, making it possible for them to survive amidst the economic downturn.
“The collapse of financial markets makes it increasingly difficult for small businesses to receive payroll loans, expand inventories, or grow in ways that create new jobs,” said Lt. Governor Barbara Lawton. “These expanded SBA programs reinvest in small business prosperity by helping them access capital immediately and at cheaper rates. I am here today to urge struggling local businesses to talk to their lending institutions about these new options.”
As of June 15th, America’s Recovery Capital (ARC) Business Stabilization Loans also became available for financially-vulnerable businesses in need of temporary relief to keep their doors open. This temporary SBA program will provide deferred-payment, interest-free loans of up to $35,000 to viable small businesses that need help making payments on an existing loan for up to six months. The ARC 
loans, which will be distributed directly by commercial lenders, are 100 percent guaranteed by the SBA and have no SBA fees associated with them.
Left) Lt. Governor Lawton at Wingra Boats in Madison, Eric Ness of the SBA and Wingra Boats owner Tyler Leeper
ARC program funding is available on a first-come, first-served basis; interested businesses should contact their lending institutions immediately.
“We see three strategies playing out with this increased funding to SBA loan programs: pay the fees to get businesses to come in the door and connect to the capital they need; put banks in the mood to lend; and shore up the secondary market for the loans,” Lawton said. “Small businesses anchor their communities, circulating money locally and providing high-quality jobs for residents. We want them positioned to drive economic recovery and create new jobs.”
In Madison, Wingra Boats owner Tyler Leeper also received an SBA loan with its fee waived. This enabled him to expand his boat rental and instructional services to a second location.
“The SBA loan allowed us to expand to a new location and expand the services we provide,” said Leeper. “The loan was easy and inexpensive due to the fees being waived.”
For more information on these programs, please visit www.sba.gov or www.ltgov.wisconsin.gov.
Thursday, June 18
Lawton addresses Badger Boys State participants
Lt. Governor Lawton encouraged participants of the 68th Inaugural Session of Badger Boys State to take action, become involved and to take on leadership roles in Wisconsin. The ceremony, held Thursday at Ripon College, was the culmination of the 
weeklong Badger Boys State leadership program.
Left) Lt. Governor Lawton meets with participants of Badger Boys State after speaking at the ceremony
Badger Boys State is intended to teach boys about the importance of the American form of government through government simulations. The approximately 850 boys who participated this year were divided into mock cities and counties that formed a 51st state. The boys then carried out the normal functions of the government – voting, passing and enforcing laws, and trying court cases – to experience how America’s government functions.
Left) Lt. Governor Lawton with 2009 Badger Boys State Governor, Rory Ferreira.
Left) Lt. Governor Lawton with 2009 Badger Boys State Lt. Governor Kyle Manske.
