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Local SBA Gets Federal Funding

The Small Business Administration’s Los Angeles office has received $1.6 million in federal funds to expand its seven small business development centers in Los Angeles County, SBA officials announced Tuesday.

The money came from the federal Small Business Jobs Act of 2010 that President Obama signed last September. It will be used to hire additional advisers to help small businesses in targeted industries, such as entertainment, garment manufacturing, cosmetics and food-related businesses.

The money will also go to expand programs helping firms find export markets. Other uses include facilitating startups in the high tech and clean energy sectors. Also, the SBA plans to expand services to Latino and Asian businesses.

“These resources will target several industries throughout the Los Angeles region, including green energy and high technology sectors, youth entrepreneurship, international trade and underserved markets,” said SBA Regional Administrator Elizabeth Echols.

Howard Fine
Howard Fine
Howard Fine is a 23-year veteran of the Los Angeles Business Journal. He covers stories pertaining to healthcare, biomedicine, energy, engineering, construction, and infrastructure. He has won several awards, including Best Body of Work for a single reporter from the Alliance of Area Business Publishers and Distinguished Journalist of the Year from the Society of Professional Journalists.
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