What is the SBA?

The Small Business Administration is an independent federal government agency which caters to the needs of small businesses.  In addition, it safeguards the welfare of small businesses in the country and helps entrepreneurs open new businesses and assists them with much needed capital to make their business grow.

SBA Loan Programs

One of the services the Small Business Administration offers to small companies are small business loans. The loan assistance a SBA lender can provide are:

  • basic 7 (a) loan - the most basic type of loan offered to American small firms
  • cdc/504 loan - a long-term financing program granted to growing businesses
  • micro loan - a very small amount of loan to aid financial concerns of new businesses
  • disaster recover loan - an assistance program for businesses affected by disasters
  • special purpose loan - a type of loan offered for various special purposes including global expansion of businesses

Other Services

Aside from financial aid programs, the SBA provides other kinds of services to small businesses like counseling, training, and government project contracting. It does not only offer disaster assistance to business entities, but as well as to homeowners and renters. Furthermore, SBA has established special programs for women entrepreneurs, veterans, Native Americans, and the minority population.