The 10 Regions Of Government Contracting

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The United States Small Business Administration (SBA) offers business assistance and several types of loans and grants to assist small businesses throughout the country. The office fulfills its mission by certifying the eligibility of prospective 8(a) business development firm participants and managing a national program that provides marketing, managerial, technical, and procurement assistance to help eligible businesses achieve their full competitive potential.small business administration

The SBA co-leads the BusinessUSA initiative with the Department of Commerce to provide small businesses with an easy-to-use, consolidated website and toll-free telephone number for the many government small business resources found in other agencies.

To qualify, your business must be in one of the 13 industries the bank funds: agriculture/poultry, dental, family entertainment, funeral service, hotels, insurance, investment advisory, medical, ophthalmic, pharmacy, self-storage, veterinary and wine/craft beverage.

In 2010, P.L. 111-240, the Small Business Jobs Act of 2010, provided additional funding to extend the 7(a) program’s fee subsidies and 90{c5af7dfcac74c6fe30f917948b7a3c799c460c768962769cd460a3bd41500ead} maximum loan guaranty percentage through December 31, 2010, increased the program’s loan guaranty limit from $2 million to $5 million, and established an alternative size standard for the 7(a) and 504/CDC loan programs which is designed to increase the number of small businesses that can participate in the two programs.small business administrationsmall business administration

Over the years, the SBA has established and revised numerical definitions for all for-profit industries, and this numerical definition is called a size standard.” It is almost always stated either as the number of employees or average annual receipts of a business concern.

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