An Introduction to the Federal Small Business Association
The federal Small Business Administration (SBA) was established in 1953 to aid, counsel and protect the interests of the nation's small business community. The SBA offers a variety of resources to entrepreneurs and small business owners. Working with intermediaries, banks and other lending institutions, the SBA encourages and promotes loans and venture capital financing to small businesses. The SBA offers several small business loans through the 7(a) Loan Guaranty and Certified Development Company programs. In addition, the organization helps its clients secure venture capital financing through the Small Business Investment Company Program. The Small Business Administration also funds small loans (up to $25,000) to new businesses. The program is an excellent resource for all entrepreneurs and small business owners that can provide help during many stages of your business. They're on your side!
^
The Small Business Administration offers the following programs to help entrepreneurs and small business owners finance their business.
- SBA's 7(a) Loan Guaranty Program (General Business)
- SBA's Microloan Program
- SBA's 504 Certified Development Company Program
- SBA's Certified and Preferred Lenders Program
- SBA's Secondary Market Program
- SBA's Surety Bond Program
- Opportunities - Procurement Assistance and Grants
- Financing Your Business workshops
- Shareware programs
In addition, the SBA provides a Directory of Small Business Lending Reported by Commercial Banks and ready-to-complete loan application forms for downloading to your computer (access them at www.sba.gov).
Most lenders are familiar with SBA loan programs. Interested applicants should contact their local lender for further information and assistance in the SBA loan application process. Information on SBA loan programs, management counseling and training services offered by the agency is also available from your local SBA office.
|
This article is excerpted from the Vault Guide to Starting Your Own Business.
Read more excerpts or purchase the guide
Discuss entrepreneurship at the Entrepreneurship Message Board
|
