SMALL BUSINESS ADMINISTRATION LOANS

SMALL BUSINESS ADMINISTRATION LOANS

Small Businesses provide more then half of existing private sector jobs, two-thirds of new private sector jobs, and more than half of the United States' Gross Domestic Product. The Small Business Administration's (SBA's) mission is to promote small business development and entrepreneurship through business financing and technical assistance programs. SBA also works with other Federal Agencies to reduce regulatory and paperwork burdens on small business. This helps its citizens to achieve their goals and dreams.


This Administration is championing small business interest through tax cuts and guaranteed lending programs to assist entrepreneurship. This will provide financing to those who could not obtain affordable loans without a Federal Government Guarantee. SBA's Section 504 loan program will support additional $7.5 billion in guaranteed loans for fixed-rate financing of fixed assets such as land, equipment, and buildings. SBA will also supplement the capital of Small Business Investment Companies with $3 billion in guaranteed long-term loans for venture capital investments in small businesses.
The SBA's strategic plan includes goals to support the Nation's entrepreneurs:(this is you)

Strategic Goal One- Improve the economic environment for small business.
Strategic Goal Two- Increase small business success by bridging competitive opportunity gaps facing entrepreneurs.
Strategic Goal Three- Restore homes and businesses affected by any disaster.
Strategic Goal Four- Provide high quality executive leadership and support services.
The SBA provides billions in Government-backed small business loans with $28 billion set aside for the year 2007 which is the highest ever for the Small Business Administration. Economic growth creates new jobs, reduces the deficit and improves our quality of life. Small business is a key engine driving this economic growth for our country. (You are part of this key)

How do I finance my new business?
Entrepreneurs have many options available to them to finance their business. Due diligence and gathering the facts are your most important first step. You just need to inform us how much capital is needed. We help you identify available sources and how to gather the information needed. Funding is available to all citizens including Women, Veterans, and Minorities. The SBA loan application package can be as simple as a one-page form, and the SBA can approve an application in 1-7 days. SBA programs are especially valuable for a new business where collateral is weak and/or a longer repayment term is needed. We provide you with a simple nine-step process to follow to obtain funding. It's that simple!

SMALL BUSINESS ADMINISTRATION LOANS

General Information on SBA Loans
All SBA loan programs lend to small businesses unable to secure financing on reasonable terms through normal lending channels. The loan programs are operated through private-sector lenders that provide loans which are, in turn, guaranteed by the SBA -- the Agency has no funds for direct lending or grants.
Here you will find brief descriptions of the primary loan programs available through funding from the U.S. Small Business Association (SBA).
Loan Guaranty Program
One of the SBA's primary loan programs, 7(a) offers loans of up to $2,000,000. (The maximum dollar amount the SBA can guaranty is generally $1 million.) 
Certified Development Company (CDC), a 504 Loan Program
Provides long-term, fixed-rate financing to small businesses to acquire real estate or machinery or equipment for expansion or modernization.
Microloan Program
This new program offers loans of up to $35,000 to qualified start-up, newly established, or growing small business concerns. Loans are arranged through nonprofit community based lenders (intermediaries) which, in turn, make loans to eligible borrowers.
Targeted Loan Programs
Besides the general programs described above, the SBA offers several loans designed to meet specific needs.

Gulf Opportunity Pilot Loan (GO Loan) Program
The U.S. Small Business Administration is initiating a one year Gulf Opportunity Pilot Loan (GO Loan) Program to expedite small business financing to those communities severely impacted by Hurricanes Katrina and Rita. Under this unique initiative, the Agency will provide its full guarantee and streamlined and centralized loan processing to qualified lending partners that agree to make expedited SBA 7(a) loans available to small businesses located in those disaster areas.

Veterans & Disabled Persons? -- veterans are eligible for special consideration under SBA's guaranty loan programs. The special consideration given veterans includes: Liaison personnel in each field office; In-depth management counseling and training assistance; and, Prompt and priority processing of any loan application.
What About Business Size?
Of course, not every business is a "small" business. To be eligible for SBA loans, your business must meet certain size restrictions.

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