The U.S. Small Business Administration (SBA) is another government agency that provides financial assistance to U.S. exporters. Significant supplemental appropriations for the agency strengthened SBA lending through the American Recovery and Reinvestment Act of 2009 and the Small Business Jobs Act of 2010. Export Express is a program that expedites multipurpose loans for small business exporters.
The staff assigned to process applications work remotely from the SBA Headquarters in Washington DC and have been trained in current processes that have proven burdensome. Meeting and exceeding the federal government’s small business procurement goals continues to be an Administration priority.
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. The 7(a) Loan program is the federal government’s primary small business loan program, assisting small businesses to obtain financing when they do not qualify for or otherwise have access to traditional credit.
However, loans used to finance real property held solely for income or investment are not eligible. The last one is quite popular among the aspiring entrepreneurs, one of reason being the easy availability of loans with wide choices, minus hassles. One of the most popular uses of SBA loans is commercial mortgages on buildings occupied or to be occupied by small business.
In this capacity, the Agency takes a leadership role in ensuring effective delivery of federal small business programs and services, collaborating across a broad array of agencies. In SNHU’s BS in Business Administration – Small Business degree online, you’ll gain the entrepreneurial expertise you need to make your business venture successful in our focused small business management courses.