| Summit targets small-business owners
A free informational session on business financing for small-businesses owners will be held in Honolulu Dec. 5. Hawaii-based mortgage banking company Meridian Financial Network is sponsoring its first Small Business Summit, which it plans to hold annually. The company, a U.S. Small Business Administration-approved lending institution, said the half-day session will help familiarize small-business owners with both in-house and government loan programs, including SBA loan programs. The SBA offers loan programs to help small businesses obtain financing when they might not be eligible for conventional bank loans because of a lack of financial history. Speakers at the session will include Andrew Poepoe, director of the SBA's Hawaii District office; Jim Tollefson, president and CEO of the Chamber of Commerce of Hawaii; and Keith Ogata, director of S.C.O.R.E.
Nigeria: Sokoto Boosts SMEs With N2bn Grant
Sokoto state government has earmarked the sum of N2 billion for onward distribution to small and medium scale entrepreneurs and traders with the view to improving their businesses in the state. State Governor, Alhaji Aliyu Magatakarda Wamakko, made this known at the weekend, while distributing 30,000 motorcycles on loan to civil servants and primary school teachers at the Government House Sokoto. .
Local lender receives small business award
The U.S. Small Business Administration Thursday recognized the top lenders in the state for providing SBA-backed start-up and expansion loans to small businesses, as well as the government agencies that signed the most contracts with minority firms."These lenders help provide economic opportunities for those looking to go into business," said Michelle Johnston, the state SBA director.Glacier Bancorp, headquartered in Kalispell and the holding company for Valley Bank of Helena among other community banks around the state, was the top SBA lender in the year ended Sept. 30, making 76 loans totaling nearly $6.6 million. Vice President Don Chery said the company's practice of leaving the banks it acquires as stand-alone institutions helps generate SBA activity."When you own small community banks and leave them as small community banks, they have a tendency to be more community oriented," he said.
Celtic Bank receives SBA honor for 4th year
Celtic Bank, based in Salt Lake City, has received the U.S. Small Business Administration Lender of the Year award for the fourth consecutive year. Celtic Bank originally was recognized as the top 7(a) and 504 lender for Utah's SBA in the small-size category. This year, Celtic Bank received the distinction in the medium-size lender category. The bank has been providing SBA loans since it first opened in 2001. .
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FDA removes hold on Targeted Genetics arthritis drug trial
Targeted Genetics Corp. said the U.S. Food and Drug Administration has removed its hold on the company's development of an inflammatory arthritis drug. In July, after a death was reported in a study of the drug, the Seattle biotech (NASDAQ: TGEN) put on hold the development program for tgAAC94. The company said the FDA's latest action follows a review of the safety data to date on all 127 subjects from the clinical trial. The review, according to Targeted Genetics, "indicates that tgAAC94 did not contribute to the patient's death, which was due to disseminated histoplasmosis." .
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