The Many Ways The Small Business Administration Can Help You Grow A Business

If you have a solid business plan, you may want to look for potential investors. The SBA’s website outlines the business plan process and the necessary sections so your plan will be solid. SBA’s four basic loan programs are: Guaranteed Loans, Certified Development Company Loans or 504 Loan Program, Small Business Investment Companies, and Microloans. There are several types of Small Business Administration lenders and the difference is typically based upon the volume of SBA loans that the lender produces each year. Significant supplemental appropriations for the agency strengthened SBA lending through the American Recovery and Reinvestment Act of 2009 and the Small Business Jobs Act of 2010.

Since your new business is like a baby, you need to work with a good accelerator or incubator. Through an extensive network of field offices and partnerships, the Small Business Administration assists and protects the interests of small business concerns. There is also a link for training and resources for small businesses in the Minnesota area including the Native American Business Enterprise Center and the Northeast Entrepreneur Fund. With help from Business Advisor Jesse Karasin at the Baruch SBDC, Josh came up with a plan to can for breweries at their locations. Repayment: SBA and the bank expect a loan to be paid out of the profits of the business.

The Tennessee Small Business Development Centers network, hosted by Middle Tennessee State University in Murfreesboro, TN, is an accredited member of the National Association of Small Business Development Centers and funded in part through a cooperative agreement with the U.S. Small Business Administration , participating universities and community colleges, and regional support partners.

SBA loans are used heavily by banks of all sizes to finance the purchase or construction of business owner-occupied real estate (i.e. real property purchased for commerce). The Investment Company Act of 1958 established the Small Business Investment Company (SBIC) Program, under which SBA licensed, regulated and helped provide funds for privately operated and operated venture capital investment firms. This is also true for businesses that will use the loan for outsourcing business processes.

All in all, the small business model in America in conjunction with SBA loans over the last century have ended up playing a significant role on the way to engendering many great things: employment, growth opportunities, new neighborhoods, schools, and a laundry list of many other positives. Right now, I’m working with a business owner right now that needs to eat an elephant, a snowball, and a frog.