Small Business Administration (SBA)
The U.S. Small Business Administration (SBA) was created in 1953 as an independent 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. We recognize that small business is critical to our economic recovery and strength, to building America’s future, and to helping the United States compete in today’s global marketplace.
Through an extensive network of field offices and partnerships with public and private organizations, SBA delivers its services to people throughout the United States, Puerto Rico, the U. S. Virgin Islands and Guam.
This federal agency has many programs designed to help small, minority women or veteran owned businesses. They help you export from the USA and they also guarantee loans through banks.
The mission of the Small Business Administration is “to maintain and strengthen the nation’s economy by enabling the establishment and viability of small businesses and by assisting in the economic recovery of communities after disasters.”
The SBA does not make loans directly to small businesses but does help to educate and prepare the business owner to apply for a loan through a financial institution or bank. The SBA then acts as a guarantor on the bank loan. In some circumstances it also helps to procure loans to victims of natural disasters, works to get government procurement contracts for small businesses, and assists businesses with management, technical and training issues.
The SBA has directly or indirectly helped nearly 20 million businesses and in 2008 had a loan portfolio of roughly 219,000 loans worth more than $84 billion making it the largest single financial backer of businesses in the United States.
The SBA has an associate administrator for the following offices:
* Communications and Public Liaison
* Congressional and Legislative Affairs
* Disaster Assistance
* Entrepreneurial Development
* Equal Employment Opportunity and Civil Rights Compliance
* Field Operations
* Government Contracting and Business Development
* Hearings and Appeals
* Inspector General
* International Trade
* Management and Administration
* Minority Enterprise Development
* Native American Affairs
* Size Standards
* Small Business Development Centers
* Surety Guarantees
* Veterans Affairs
* Women’s Business Ownership
For more details, check out their website at http://www.sba.gov