Small Business Administration Programs
The U.S. Small Business Administration’s Office of Advocacy recently released an encouraging report on veteran-owned businesses. The SBA is improving coordination and communication across the federal government, facilitating matchmaking events, increasing online trainings and holding senior officials accountable for meeting their agencies’ small business goals. The bank and its client (small business) negotiate the terms within the parameters described in the following paragraphs.
Women’s Business Centers (WBCs) represent a national network of over 100 non-profit educational centers throughout the United States and its territories, funded in part through SBA support. For existing businesses, SBA uses the business ratios provided by Dun and Bradstreet and Robert Morris Associates.
These counseling services provide services to over 1 million entrepreneurs and small business owners annually. Through an extensive network of field offices and partnerships, the Small Business Administration assists and protects the interests of small business concerns.
As part of the Start-Up America initiative, government leaders met with more than 1,000 entrepreneurs across the country to talk about ways to reduce barriers for small business growth. Each new or returning lender will expand SBA’s footprint and increase small business access to capital.
The 7(a) loans have a maximum limit of $2 million, while the CDC/504 loans range from $1.5 million to $4 million, depending on the type of business and other criteria. The SBA export express loan is for those small businesses that have problems financing exports…usually due to the lengthy time required to process typical export loans.