Features Of SBA Business Plan

As mentioned in the previous post, the most effective way to market to the government is by knowing where your product/service is needed. The U.S. Small Business Administration (SBA) is committed furthering the growth and development of small business nationwide, including our local communities. SBA-backed loans are in principle open to any small business, but yours will need to meet certain criteria in order to qualify.

TheĀ 7(a) LoanĀ program is the federal government’s primary small business loan program, assisting small businesses to obtain financing when they do not qualify for or otherwise have access to traditional credit. The main SBA loan programs are SBA 7(a) which includes both a standard and express option; Microloans (up to $50,000); 504 Loans which provide financing for fixed assets such as real estate or equipment; and Disaster loans.

SBA loans, as 7(a) loans are also known, are the federal agency’s most popular type of financing. A bank usually will not lend more than 50% for the dollar amount beyond the value of the assets of the business (determined by the valuation), otherwise known as Goodwill (or Blue Sky Equity).small business administrationsmall business administrationsmall business administration

Believing that a lack of information and expertise was the main cause of small business failure, the OSB produced brochures and conducted management counseling for individual entrepreneurs. Postcards can drive a huge amount of traffic to your website, generate a flood of new sales leads or produce a surge in any business activity you want.

Provide a personal financial statement for each individual owning twenty percent (20%) or more of the business. The SWPC provided direct loans to private entrepreneurs, encouraged large financial institutions to make credit available to small enterprises, and advocated small business interests to federal procurement agencies and big businesses.