The Small Business Administration Needs Reforming

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The U.S. Small Business Administration (SBA) was created in 1953 and since January 13, 2012 has served as a Cabinet-level agency of the federal government to aid, counsel, assist and protect the interests of small business concerns, to preserve free competitive enterprise and to maintain and strengthen the overall economy of our nation. Homeowners and renters are eligible for long-term, low-interest loans to rebuild or repair a damaged property to pre-disaster condition. Paying close attention to the financial details will determine whether your business will survive. Snowe said the agency reviewed less than 1{c5af7dfcac74c6fe30f917948b7a3c799c460c768962769cd460a3bd41500ead} of all small business contracts to minimize fraud.small business administration

The 8(a) Business Development Program assists in the development of small businesses owned and operated by individuals who are socially and economically disadvantaged, such as women and minorities. Through 8(a) sole source and competitive contracting opportunities, the federal government acts as a catalyst for small business growth, innovation, job creation, and supports the national economic security of the nation.small business administration

Furthermore, Small Business Administration assists small enterprises to manage their operations, gain technical experience as well as provide training to their staff or administrators. If a business with a Disaster Relief Loan defaults on the loan, and the business is closed, the SBA will pursue the business owner to liquidate all personal assets, to satisfy an outstanding balance.

HomeStreet received this designation based on a solid track record of working with the SBA and our ability to demonstrate a high proficiency in underwriting and servicing SBA guaranteed loans. The plan reflects the outlook of the business and in identifying the target in the market with the special mention of the existing clients and customers and the market share which the business is holding at present.small business administration

The Business Administration – Entrepreneurship and Small Business program adds entrepreneurial and small business know-how to a powerful foundation of business knowledge and skills. SBA’s unique contracting programs provide a path to business growth for these populations.

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