By Logan B. Anderson

WILMINGTON — The U.S. Small Business Administration has a large list of educational opportunities and assistance programs for Delaware companies, and its current focus, in a pandemic-impacted economy, is helping businesses access capital.

John L. Banks, deputy district director of SBA’s Delaware branch, said it has created initiatives to help small businesses access money they need and potentially fill the gaps created by the pandemic.

The administration hosts regular webinars and classes about its programs. This month, the state chapter held a session for business owners who have been turned down for loans.

“We are trying to help them understand what happens when they submit that application to the bank for financing. We offer them a perspective on how the bank is going to be looking at the application (and) what constitutes a yes versus a no,” Mr. Banks said.

SBA has also been promoting the historically underutilized business zones program.

The HUBZone program was created to boost small-business growth in underused business areas, with a goal of awarding at least 3% of federal contract dollars to HUBZone-certified companies each year.

The program could help manufacturers and service providers fill holes created by COVID-19 by taking the federal government on as a customer.

Mr. Banks said Delaware is in a good position geographically because there are a lot of federal agencies that need products and services — like the Dover Air Force Base, the Department of Veterans Affairs and the Coast Guard — as well as because of its proximity to other military bases and Washington, D.C.

For more information or to see if you are in a HUBZone, visit here.

Additionally, SBA will act as a loan guarantor for some businesses.

“In essence, how we help is that we become like a co-signer on a loan, and we can guarantee to the bank up to 90%. We assume up to 90% of the risk away by guaranteeing the bank that if that company should default on the loan, we are on the hook for 90% of the balance. We take 90% of the risk away. With that, the financial institution is usually more willing to make the loan under those circumstances,” Mr. Banks said.

One program specifically created to help companies affected by COVID-19 will end Dec. 31.

Time is running out for small businesses to apply for long-term, low-interest Economic Injury Disaster Loans of up to $2 million. COVID-19 EIDL loans and loan-increase applications have to be processed before the end of the year.

SBA updates its programs and initiatives routinely.

“Folks can sign up for our updates at sba.gov. And then, directly to their email inbox will come notifications about our programs. They will see that we are doing this class, or we are doing that class,” said Jennifer Pilcher, a spokeswoman for the SBA Delaware district.

A visit to SBA Delaware’s website also will take business leaders through some of what the administration has to offer. On Tuesday, SBA will host a web-based program about accessing federal contracts. On Thursday, it will offer an installment of its Women Owned Small Business Certification Program.

SBA was created in 1953 and, since 2012, has served as a cabinet-level department of the government. Its mission is to counsel, assist and protect the interests of small-business concerns, to preserve free competitive enterprise and to maintain and strengthen the overall economy.

The administration has an extensive network of field offices throughout the nation and U.S. territories. In Delaware, the office is at 1105 Market St., Wilmington.