What does the SBA regulate?

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, preserve free competitive enterprise and maintain and strengthen the overall economy of our nation.

What is the SBA and what are some of the ways it supports potential and current small business owners?

The U.S. Small Business Administration (SBA) helps Americans grow businesses and create jobs by providing resources and tools, including access to capital; opportunities in Federal contracting; access to entrepreneurial education; and disaster assistance for businesses, homeowners, and renters.

Is SBA backed by government?

The SBA provides a government-backed guarantee on part of the loan. Under the Recovery Act and the Small Business Jobs Act, SBA loans were enhanced to provide up to a 90 percent guarantee in order to strengthen access to capital for small businesses after credit froze in 2008.

What government regulations can affect a business?

The government regulates the activities of businesses in five core areas: advertising, labor, environmental impact, privacy and health and safety.

What are the requirements for small disadvantaged business?

Small Disadvantaged Business

The firm must be 51% or more owned and controlled by one or more disadvantaged persons.
The disadvantaged person or persons must be socially disadvantaged and economically disadvantaged.
The firm must be small, according to SBA’s size standards.

How can the SBA help your business?

The SBA may help small business owners by:

Awarding direct business loans.
Guaranteeing bank loans to small businesses.
Providing loans to victims of natural disasters.
Working to get government procurement contracts for small businesses.
Providing management and technical assistance and business training.

How does SBA help small businesses?

What does the SBA do? The SBA assists small businesses in four main areas: financing, education and training, government contracting, and providing a voice in policy matters. These programs are aimed at helping entrepreneurs start their businesses and keep them thriving.

Can I use SBA loan for personal use?

Like many small business owners, your business exists as an extension of yourself. It is your identity and your hard work. However, you cannot use you SBA loan to pay off your personal debt, such as credit cards, mortgage or other debts.