Know about Small Business Administration(SBA)
The Small Business Administration (SBA) is a U.S. government agency which was initiated in 1953. SBA is a autonomous body. Small Business administration was established in order to fostering and promoting the economy by giving all out supports to small
businesses . One of the crucial functions of the SBA is to give assistance to individuals who are trying to start and to grow businesses. There are tools to assist small businesses including a small business planner and additional training programs.
SBA offices are located throughout the United States and associated territories offer in-person, one-on-one counseling services.The services that include business plan writing instruction and give assistance for small business loans .
The SBA offers plenty educational information with a specific targets on assisting small business startup and growth. Besides, educational events offered on the SBA’s website, local offices also provide more personalized special events for small business owners.
The SBA was launched by President Eisenhower. The SBA was enacted under the Small Business Act of 1953. SBA has been in place more than six decades of existence. since its inception, the SBA has been threatened on numerous occasions. In 1996, The House of Representatives dominated by the Republican party tried to be eliminated. However, the agency survived various threats and received a record budget in 2000.
The attempts to cut the agency’s loan program saw significant resistance in Congress dduring bush era. the SBA’s budget was cut repeatedly each year from 2001 to 2004.
The salient features of SBA is its Loan Program.The loan programs offered by the SBA are among the most perceptible element the organization provides. The organization offers guarantees against default pieces of business loans extended by banks and other official lenders if that go in norm of the agency’s guidelines. one of the key function of these loan programs is to make loans with longer repayment periods available to small businesses.