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BRC Bulletin Volume 5, Issue 21, December 27, 2006

EDG Microloans, SBA Funding Report, ABRA Issues Advisory, Financial Literacy for Non-Accountants, DC Bar Pro Bono Legal Service

  1. Enterprise Development Group (EDG) Offers Microloans
  2. SBA Releases Report on 2005 Funding for Small and Micro-Businesses
  3. ABRA Issues Advisory for Upcoming Holiday Season
  4. New Class Available on Financial Literacy for Non-Accountants
  5. Find Legal Ins and Outs for Small Businesses

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1. Enterprise Development Group (EDG) Offers Microloans

Enterprise Development Group (EDG) can help you obtain capital for your new or expanding small businesses with loans and matched savings products. EDG ranks sixth among Small Business Administration (SBA) lenders in the DC region and specializes in new and existing small businesses that can't obtain capital from traditional banks. EDG offers microloans up to $35,000 that feature competitive rates and flexible terms. In partnership with Capital Area Asset Builders (CAAB), EDG also offers a matched savings program that helps entrepreneurs to save money and earn up to $9,000 in capital for their business. Program participants must meet income guidelines and other qualifications. For more information visit EDG, contact Emmanuel at (703) 685-0510 ext. 240 or email EDG.

Learn more about EDG.

Learn more about CAAB.

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2. SBA Releases Report on 2005 Funding for Small and Micro-Businesses

The Small Business Administration (SBA) reports that the rate of small business lending growth in the United States slowed down in 2005 relative to the previous year. Small business credit cards remained the most dynamic market. The number of small business loans outstanding (for loans under $100,000) grew by 25 percent, from 15.2 million in June 2004 to 19.0 million in June 2005. Total small business loans outstanding for the 8,799 reporting depository institutions in the US and its territories were valued at $601 billion for 21.0 million loans in June 2005. This compares with a total of $577.1 billion in value and 17.1 million in number in the previous year. There were 19.0 million outstanding micro-business loans valued at $135.9 billion. For the full report, visit the SBA*.

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3. ABRA Issues Advisory for Upcoming Holiday Season

The Alcoholic Beverage Regulation Administration (ABRA) wants the public to be aware that under Section 25-722 of the DC Official Code, off-premises retail licenses class A and B may sell or deliver alcoholic beverages on Christmas Eve and New Year's Eve, even though those days fall on Sundays in 2006.

Additionally, under Section 25-723(c) of the DC Official Code, on-premises retailer licenses class C and D, such as restaurants, taverns, nightclubs and hotels, may sell or serve alcoholic beverages until 4 am on Monday, January 1, 2007.

If you would like further information about this matter, please contact ABRA at (202) 442-4423 or contact Community Resource Officer Cynthia Simms via email.

Read ABRA's advisory.

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4. New Class Available on Financial Literacy for Non-Accountants

The DC Chamber of Commerce and Accounting Comes Alive announce a two-hour, interactive workshop that leads participants to discover the accounting framework and distinguish its five key concepts. Richer business communication and better decisions rely on your ability to distinguish these five key concepts of accounting.

Date: Tuesday, January 9, 2007

Time: Registration/Breakfast: 8 to 8:30 am (at the DC Chamber of Commerce); Program: 8:30 to 10:30 am (at the Four Points by Sheraton)

Location: Please note that breakfast will be held at the DC Chamber of Commerce and not the Four Points by Sheraton. If you arrive after 8:30 am, please go directly to the Four Points by Sheraton to check in and register.

Registration/Breakfast: DC Chamber of Commerce, 1213 K Street, NW

Program: Four Points by Sheraton, Washington DC Downtown, 1201 K Street, NW

Cost: $25 Members; $40 Non-Members (includes continental breakfast from 8 to 8:30 am)

Please RSVP by email and include the name of the event in the subject line.

Visit Accounting Comes Alive.

Visit the DC Chamber of Commerce.

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5. Find Legal Ins and Outs for Small Businesses

The DC Bar Pro Bono Program, in partnership with the law firm of Winston & Strawn, the District of Columbia's Department of Small and Local Business Development (DSLBD), and the DC Small Business Development Center Network (DC SBDC), has developed a course that will take you through the legal ins and outs of operating a small business in the District of Columbia. The course focuses on helping you compete for work on the many government-sponsored building projects.

This course is geared to the existing small business owner, especially those who work on building projects, including suppliers, trade contractors, construction companies, and other suppliers who provide services to construction sites. It is designed for sole proprietors, business partnerships, general managers and owners of Limited Liability Companies (LLCs).

Attendees will learn valuable information about how to organize their business to meet certain legal requirements and protect their assets. They will understand the basics of employment law, insurance, contracts–especially government contracts–and joint ventures.

Participants who successfully complete the course will be given a certificate of achievement by the sponsors: the DC Bar Pro Bono Program, DSLBD and DC SBDC.

Dates and Times:

January 9, 2007
4:30 to 6:30 pm: How to Set Up Your Business

January 23, 2007
4:30 to 6:30 pm: Basics of Employment Law

February 6, 2007
4:30 to 6:30 pm: Risk Management 101

February 20, 2007
4:30 to 6:30 pm: What's in a Contract and Why

March 6, 2007
4:30 to 6:30 pm: The Basics of Government Contracts I and II

March 20, 2007
4:30 to 6:30 pm: The Basics of Government Contracts I and II

April 3, 2007
4:30 to 6:30 pm: Joint Ventures–How to Make it Work

Location: e-BIC Video Conference Room on the A Level of the Martin Luther King Memorial Library, 901 G Street, NW, Washington, DC 20001
Use Metro station Gallery Place on the Red, Green and Yellow lines.

Cost: There is no charge for the course. However, there is a $25 charge for the materials.

Registration: In order to register, please call DC SBDC at (202) 806-1550.

For more information, visit the DC Bar Pro Bono Program.

Visit DSLBD.

Visit the DC SBDC.

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