The Small Business Administration (SBA) Essay examples

The Small Business Administration (SBA) In July of 1953 the United States Congress amended an act called the Small Business Act. Many believed that the essence of the American economic system of private enterprise is free competition. Also, that only through full and free competition can free markets, free entry into business, and opportunities for expression and growth of personal initiative and individual judgment can be assured. Thus, the Small Business Act was amended. In order to carry out the policies of this Act there was hereby created an agency under the name Small Business Administration. The United States Small Business Administration, more commonly known as the SBA, is a federal agency to protect and assist Americas†¦show more content†¦Financial Assistance is made up of three different loan categories:  · 7(a) General Business Loan, which is most widely used. It provides funds for almost any legitimate business purpose.  · Certified Development Company Loans (504 Program) provide long term, fixed rate financing at reasonable rates for businesses to grow.  · Other Special Loan Programs include: Micro loans; Lines of Credit; Contract Loans; Physical Disaster Loans; Direst loans to veterans, Vietnam, disabled and handicapped individuals, etc. Another function of the SBA is Investment Capital. This provides small businesses to have money or capital for growth and finance. The Small Business Investment Capital or SBIC provides the capital. Developed in 1958, the SBIC wanted to fill the gap between venture capitol and the needs of small businesses. There are two types of SBICs, the regular SBIC and the specialized SBIC. The Procurement Assistance function tries to make sure that small businesses get their fair pay, goods and services from the federal government. Procurement Assistance programs include Prime Contracts Assistance, Natural Resources Assistance, Subcontracting Assistance, COC and PASS programs. The SBA also tries to establish goals for contracting with small disadv antaged businesses. The last area of focus is Disaster Loans Assistance, which comes into play forShow MoreRelatedThe Small Business Administration ( Sba )1236 Words   |  5 PagesAbstract The Small business administration (SBA) was created on July 30, 1953, by President Eisenhower with the signing of the Small Business Act. When it was created, there are some presidents want to stop it and some presidents want to develop it. Therefore, we also can see it active in the United States government on today. In this paper, I will through the background of The Small Business Administration (SBA) to introduce what type of organization is it? What does the organization do? WhoRead MoreThe Small Business Administration (SBA) Essay814 Words   |  4 PagesThe Small Business Administration â€Å"aids, counsels, assists, and protects the interests of small business concerns.† They assist small businesses by providing them with whatever is necessary and will not stop until they get the business to be successful without their assistance. Although they are not able to give the business all of the necessities they need, they do their best and as much as they can do. Their m otto is, â€Å"Aid, counsel, assist, and protect insofar as is possible, the interests of smallRead MoreWhat Are The Factors To Apply For Small Business Administration ( SBA ) Accounting?783 Words   |  4 Pagestypically ask for business and personal tax returns; they might also review balance sheets, income statements, cash flow projections and other financial statements. Marketplace lenders, which typically have a more streamlined application process, may require less documentation. To use your time efficiently, ask your lender which documents it will need to review. If you’re applying for Small Business Administration (SBA) financing, you can find a list of required documents on the SBA website. DependingRead MoreBusiness Plan For Small Business Administration906 Words   |  4 PagesThe U. S. Small Business Administration (SBA) recently announced a widening of services that assists small businesses acquire capital from lending partners (U. S. Small Business Administration, 2015). The Leveraging Information and Networks to Access Capital (LINC) initiative matches small businesses with SBA lending partners to help these businesses with their financial needs (U. S. Small Business Administration, 2015). It is apparent that the SBA is taking the necessary, and innovative, stepsRead MoreExternal Controls Of Small Business Administration1187 Words   |  5 PagesExternal controls of Small Business Administration There are two general approaches to maintaining responsible conduct within public organizations: internal controls and external controls (Terry L. Copper, 2012). In the SBA, there are lot offices can help this agency to do well on the internal controls, they through training, education, formal and informal exchange of ideas and so on to maintain ethical conduct. On the other hand, how are its external controls? From we learn in the class, we knowRead MoreWhat is Lifted Imagery?1631 Words   |  7 Pages Lifted Imagery is UAV-based aerial media provider targeting the needs of the real estate marketplace. Starting the business will require capital to purchase the UAV itself and further accessories such as batteries and other equipment. There will also be expenses for a camera and then future upgrades as the technology changes rapidly. There will also be further business operation expenses, but the initial capital required is for the development of the UAV itself. There are various met hods that LiftedRead MoreCommon Reasons For The Failure Of New Small Businesses860 Words   |  4 PagesAccording to the textbook, there are 12 common reasons for the failure of new small businesses. This is not an inclusive nor industry specific listing. Leadership Issues 1. Managerial incompetence 2. Lack of strategic planning 3. Lack of relevant experience 4. Inability to make the transition from corporate employee to entrepreneur Marketing and Sales Issues 1. Ineffective marketing 2. Uncontrolled growth 3. Overreliance on a single customer Financial Issues 1. Inadequate financing 2. Poor cashRead MoreMau Lo Business Expansion1569 Words   |  7 Pages Mau Loa – Business Expansion Funding opportunities should be explored and increased for small businesses and entrepreneurs doing business in Atlanta, GA (Fulton County). Georgia State Legislators should use their influence to broaden funding opportunities in the City of Atlanta similar to the funding opportunities enjoyed by start-ups in Silicon Valley (Southern San Francisco Bay area). More specifically, State politicians should consider using their influence to assist young entrepreneurs (underRead MoreEssay Financing a Small Business1539 Words   |  7 Pagesyears, economist viewed entrepreneurship as a small part of our economy. Whether they are students (typically college or high school) recent college graduates, unemployed, or newly retired from one career, today entrepreneurs have a central role in the economy. According to the research I have conducted throughout the semester, an entrepreneur is defined as someone who identifies a business opportunity and assumes the risk of creating and running a bus iness to take advantage of it. Two important characteristicsRead MoreThe Historically Underutilized Business Zones ( Hubzone )1232 Words   |  5 PagesThe Historically Underutilized Business Zones (HUBzone) is a program created under the Small Business Reauthorization act of 1997. The goal of HUBzone is to â€Å"help small businesses in urban and rural communities gain preferential access to federal procurement opportunities.† The program was designed so an increase in federal contract opportunities could in turn promote employment opportunities, investment, and economic development in designated HUBzones. HUBzones are defined as nonmetropolitan counties