Understanding the SBA

SBA

If you are involved in the world of running small businesses, knowing about the SBA can be of great benefit to the ultimate success and profitability of your company. The SBA, or Small Business Administration is a government run agency that has been around for about the past five decades. One of the agency’s main goals is to provide aid and assistance to small business people. The mission statement of the small business administration is to strengthen America’s economy by strengthening American business. It does this in a couple of different ways. The administration provides programs and information to those who run small companies, so that they may be able to make the best decisions for their companies, by being more knowledgeable about the many options that they have. It also provides a way for those looking to expand and grow their business, by offering financial aid options. They are able to guarantee loans to those in charge of running a small business, through private sector lenders and various financial institutions, such as banks.

The type of lending that is available through the SBA comes in the form of what is called a SBA loan. These loans are given out to those who need financing in order for their company to experience growth. One example of this would be if your business has experienced a sudden rise in demand of whatever product or service it is that it provides, and money is needed to fund expenditures that will allow the company to meet the demands. These needed purchases may come in the form of needing to buy additional machinery and equipment, or towards the process of hiring on more employees and workers.

There are also specialty loan programs for companies that provide a valuable service in the community you which they operate out of. You should discuss with your local small business administration agency if your company qualifies for this program. Typically these are reserved for companies which operate out of less privileged neighborhoods or who provides services in areas that have shown greater signs of economic decline during times of recession.

However, if you are in the beginning stages of starting up a business, you will find more luck in gaining the financial backing, or seed money that is needed, through angel investors, venture capital, and having friends or family members invest in your business endeavor. As always I recommend that you consult with a financial professional before making major business finance decisions.

For more information, go to SBA at http://www.unsecuredbizloan.com

Understanding the SBA was last modified: September 30th, 2011 by Amit Kraidman
This entry was posted in SBA. Bookmark the permalink.

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