Earn your Master of Administration degree in Small Business Administration entirely online through Northern Arizona University. Her nomination reflects the incoming president’s penchant for reaching outside traditional political, government and business circles in staffing his administration. Loans of up to $350,000 receive a 90 percent SBA guarantee, and loans over that amount receive a 75 percent SBA guarantee.
This represents a 36.6 percent increase when compared to the prior Administration. New and returning lenders are a major component of SBA’s lending portfolio and are essential to growth in the quantity of loans approved and small businesses assisted. When a small business is awarded a government contract, the small business is often able to quickly create jobs and spur economic growth.
The Administration and SBA continue to increase efforts and collaboration to provide more opportunities for small businesses to compete for and win federal contracts. The Small Business Administration is a Cabinet-level position, which means McMahon will have to be confirmed by the Senate.
As a means to assist small businesses during the recession, the current US administration proposed to increase the loan size cap for standard CDC/504 and 7(a) loans to $5 million. You now have an Administration that respects small businesses and wants to do everything it can to engender their success.
Write your business plan: Your business plan will determine your ability to secure financing for your business, so you need to take it seriously. The SBA leverages its nationwide network of field offices and resource partners to conduct outreach to hundreds of thousands of small business owners.