The Small Business Administration (SBA) administers several programs to support small businesses, including loan guaranty programs designed to encourage lenders to provide loans to small businesses that might not otherwise obtain financing on reasonable terms and conditions.” The SBA’s 7(a) loan guaranty program is considered the agency’s flagship loan guaranty program. Under this program, the SBA guarantees short-term working capital loans made by participating lenders to exporters. A number of congressional proposals would amend the SBA’s 7(a) program in an effort to increase the number, and amount, of 7(a) loans. SBA’s Office of Capital Access will discuss opportunities to accessing capital, and how SBA loan programs ( including new Jobs Act tools ) can help.
This is something that will prevent your business from suffering major hardship due to an unexpected even or technical failure. It has been repeatedly criticized for responding slowly to the needs of small business owners, especially in the wake of disasters.
As part of the Start-Up America initiative, government leaders met with more than 1,000 entrepreneurs across the country to talk about ways to reduce barriers for small business growth. National Small Business Week – The President of the United States has proclaimed the third week of June as Small National Small Business Week since 1963.
Historically, only 25% of the applicants or about 500-600 applicants per year get through the burdensome process for a final decision from the Associate Administrator of the Office of 8(a) Business Development. Eight of the rules from 2008 were retained for 2009, while these two were removed due to successful reform by federal agencies: the EPA’s Definition of Solid Waste and the FAA’s Flight Rules for the Washington D.C. Area.
With statistics like these, it’s clear that small ventures can add up to big business. The SBA is improving coordination and communication across the federal government, facilitating matchmaking events, increasing online trainings and holding senior officials accountable for meeting their agencies’ small business goals.