Thanks to the SBA (Small Business Administration), more and more individuals are able to realize their life long dreams of running their own companies. Many people dream about starting their own company, setting their own hours, being passionate about what they do and being their own boss. During times of economic hardship, an increasing number of people attempt to make this leap into being a small business owner.
Luckily, the SBA is on hand to help these entrepreneurs succeed. The SBA was founded in 1953 as part of the Small Businesses Act that was signed into law by then President Eisenhower. Since that time, the SBA has helped countless business owners get the capital that they needed for growth. The laws and funding governing the SBA have experienced several different manifestations since it was created in 1953. However, now thanks to recent legislation signed into effect in 2010 by President Obama, this organization is stronger than ever.
In 2010, the Small Businesses Jobs Act made it possible for entrepreneurs to get even larger loans from the SBA. It also created provisions where 90 percent of a small business loan would be guaranteed through the government. Thanks to that extra guarantee, banks, credit unions, and other lenders are even more willing to lend entrepreneurs the capital that they need. The result of these changes has been a creation of more than 400,000 jobs.
Currently, the SBA spearheads efforts to help small businesses obtain 23 percent of the federal government’s contracts. This creates even more revenue and opportunity for small business owners. In addition, there are about 350 chapters of SCORE (Service Corps of Retire Executives) throughout the country. These groups of retired executives help new business owners to succeeded by guiding and mentoring their entrepreneurial efforts.
If you are ready to succeed, the SBA may have the tools that you need to reach success. To learn more about SBA loans and the application process, you can explore the rest of the UnsecuredBizLoan website, or you can simply start the easy online application. We at UnsecuredBizLoan are ready to help you get the SBA loan that you deserve.
To apply for funding for your small business, use the form on the right to begin the application process.