From an early January post from SBA Administrator Maria Contreras-Sweet: “Last week’s jobs report offered more evidence that our economy is gathering a head of steam as we ring in the New Year. Last month, American businesses added back 252,000 jobs and our unemployment rate fell to its lowest level since June 2008. We’re in the midst of 58 month of consecutive job growth – the longest streak on record since the mid-1990s.
Read the article here.
~ Norris Lozano, CEO of BusinessUS
“Small employers added 106,000 workers to their collective payrolls in December, according to the latest round of data issued by payroll processing firm ADP. That’s up from 99,000 added the month before and the fourth consecutive month of employment growth exceeding 90,000.
Over the year, small businesses added more than 1 million employees, averaging monthly additions of 90,000 workers — up from last year’s pace of about 80,000 per month.”
Read more here in the Washington Post
~ want to learn more about small business loans? email Norris Lozano or visit the BusinessUS website
If you want to open a franchise, chances are you are having trouble getting a loan. The International Franchise Association (IFA) estimates a more than $2 billion “franchise lending gap” that includes 1,000 franchises not funded, and 94,000 jobs not created.
“Small businesses generally, and franchises in particular, are terrific job creators. A typical franchise generates 21 direct and indirect jobs and over $1 million in economic impact in its community,” says Norris Lozano, CEO of BusinessUS. “We see franchises as a core vertical market to help us create American jobs and growth.”
Lack of capital availability affects franchisees who need to build or expand their businesses, as well as franchisors, whose growth is limited due to downstream constraints on lending capital.
Jamal Mashburn and Norris Lozano are leading BusinessUS outreach to leaders in the franchise industry, solving these challenges and providing new sources of capital with our specialized franchise programs.
Contact BusinessUS for further information.