Although the SBA has existed for over half a century, the agency is subject to frequent changes in funding and program policies. While these changes may affect the availability of SBA |
Currently, there are three basic financing programs that remain available through the SBA: the Microloan program for small businesses loans under $35,000, the Section 7(a) loan guarantee program, and ... |
Reductions in staffing and funding are forcing the SBA to redistribute much of the administrative burdens for the loan guarantee process to the lender. The SBA places the burden on the private ... |
The SBA offers private lenders a guarantee on loans made to qualified small businesses. If the borrower fails to pay the loan, the lender can usually obtain up to 85 percent of the outstanding loan ... |
In a nutshell, the major benefit of an SBA loan guarantee is to make conventional financing available to a small business that might not otherwise qualify for the loan. Most often, an SBA guarantee ... |
To be eligible for an SBA loan guarantee, a business must meet all of the following criteria: |
The general rule is that a business is small enough to qualify for SBA assistance if it has less than 500 employees. However, this general rule is subject to industry-by-industry variations. Below is ... |
Certain types of businesses are restricted from applying for or receiving loans directly from or guaranteed by the SBA. Among these restrictions are: |
Currently, the most popular form of financial assistance from the SBA is through the agency's Low Documentation ("LowDoc") Program, a derivative of SBA's long-established guaranteed loan program. ... |
Effective December 22, 2000, a maximum loan amount of $2 million was established for 7(a) loans but the maximum amount guaranteed by the SBA was generally just $1 million. As of December 7, 2004 the ... |
