The Small Business Administration (SBA) is a cheerleader, advocate, and supporter of entrepreneurs and small businesses. It’s a United States government agency that provides contracts, capital, and counseling to small businesses. Created in 1976, the SBA helps to protect and strengthen small businesses throughout the United States.
The programs of the SBA are many and varied. The SBA can not only help obtain loans for small businesses, but it can facilitate the acquisition of venture capital.
SBA’s Financing Role
With a number of financial assistance programs under its umbrella, the SBA assists small businesses in meeting key financial needs, including start-up funds, debt financing, equity financing, and surety bonds. While the Small Business Administration doesn’t provide direct loans or grants besides Disaster Relief Loans, it does facilitate loan acquisition from banks and non-bank lending institutions.
SBA’s Counseling and Training Role
As an important component of the SBA’s counseling and training role, this small business supporter provides a myriad of training resources on starting, managing, and financing a business. The national organization has local branches to provide business counseling, training, and mentoring at the community level. The organization’s Women’s Business Centers and Veterans Business Outreach Centers offer specialized resources for women and veterans wanting to start or grow their business.
SBA’s Contracting Role
In addition to providing small business financing, counseling, and training support, the SBA provides extensive resources in conducting business with the government, including online training to understand government contracting and work with the government.
All-in-all, the SBA realizes that small businesses are the lifeblood of America, offering opportunity to many and economic growth to all. To that end, the Small Business Administration has a collection of resources and programs to assist small businesses in doing just that: to grow and to prosper.