Small Business Administration Programs

The U.S. Small Business Administration (SBA) was created in 1953 and since January 13, 2012 has served as a Cabinet-level agency of the federal government to aid, counsel, assist and protect the interests of small business concerns, to preserve free competitive enterprise and to maintain and strengthen the overall economy of our nation. So long as you’re able to deliver the goods per their request, your business is the most able and appealing to the government no matter the location. The name comes from Section 7(a) of the Small Business Act, which authorizes the SBA to provide business loans to American-owned small businesses. While you will have to be patient, building your business on a solid foundation will always beat sand. To qualify for contracting opportunities, a business must first meet strict compliance standards.

Most efforts to sell a business fail to gain good value because the owner remains an entrepreneur and does not prepare the business to attract a good buyer. Yet during 2010, the ASBL requested and received full and comprehensive telephone records from federal agencies like the U.S. Department of Interior (DOI) and the Social Security Administration (SSA). This agency guides how to start the business by selecting a proper location, frame a strategy of the business and the steps to obtain the license ad permits necessary to run the business successfully.

The SBA is authorized under this program to make direct loans to eligible and qualified intermediary lenders who will use those loan proceeds to make short-term, fixed-interest rate loans to start-up, newly established and growing small business concerns. Therefore, no matter just how much revenue your home business needs, you will be able to have it. Keep in mind, nonetheless, that with these varieties of loans, chances are, your cash won’t come all at once, particularly if it is a big amounts.

Notable among it various programs are Small business loans for minorities, Small business loans for Women, Small business loans for veterans and young entrepreneurs. As the Reconstruction Finance Corporation’s influence waned in wake of the Dust Bowl, the Great Depression and World War II, the Small Business Administration became its natural successor.

Any business that has been operating for at least 12 months and can demonstrate that the loan proceeds will support its export activity is eligible. Merchant loans, however, allow business owners the opportunity to receive up to $500,000 in easy, unsecured business funds. SBA’s Office of Entrepreneurial Development will discuss the Jobs Act’s support for your local Small Business Development Center and other resources to provide free counseling and training in areas such as exporting.