The Small Business Administration Grants (SBA) is an independent US government agency established in 1953 to grow the economy in general by providing help to small businesses. One of the SBA’s biggest tasks is the provision of counseling to help individuals trying to start and grow own businesses. Here are some guideline for SBA Loan is given below.
Understanding the SBA LOAN
The Small Business Administration provides sufficient educational information with a particular focus on assisting small business startups and development. In addition to the educational events offered on the SBA’s website, local offices also offer more personalized special events for small business owners.
According to its website, SBA provides the following services to small businesses:
1. Access to capital: The agency provides a variety of financial resources for small businesses
2. Entrepreneur Development: This is driven by consulting services and low-cost training provided by the SBA.
3. Agreement: SBA has 23% in government contract dollars for small businesses with the help of other federal departments and agencies.
The agency has helped small businesses across the country access loans, loan guarantees, contracts and other services.
Small Business Administration Grants
Loan programs offered by the SBA are among the most visible elements offered by the agency. With the exception of disaster relief loans the organization does not provide grants or direct loans, but instead, guarantees for default pieces of business loans extended by banks and other official lenders that meet agency guidelines. The number one function of these loan programs is to make loans for small businesses with longer repayment periods.
Loans backed by the SBA include 504 loans – also known as a developed loan – that provide small businesses with certain assets to purchase some of the real estate needed to run their operations. 7 (a) loans, on the other hand, is the agency’s primary lending program. The maximum loan amount guaranteed under this program is $ 5 million.
We hope now you may know the Small Business Administration Grants say loan. For more information you can visit official site of http://sba.gov/
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