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How an SBA Small-Business Loan Can Help Your Business Grow

13. February 2013 17:58
sba loan

Small-business owners have a notoriously difficult time securing business loans from banks. Why? Because it’s generally riskier and less profitable to offer smaller loans to smaller businesses than it is to offer bigger loans to large corporations.

But with more than half of the U.S. workforce employed by small businesses, organizations have recognized a need to make growth capital easier to come by for small-business owners. The Small Business Administration (SBA), an arm of the federal government, is one notable group that sponsors programs to make the lives of small-business owners around the country easier.

Here’s an overview to an ongoing program the SBA overhauled in 2011 that makes business capital easier to secure for the country’s small-business owners.

Small Loan Advantage & Community Advantage SBA Loans

The two most notable programs currently being pushed by the SBA are…

How to Secure SBA Funding for Your Business

So how can a small-business owner secure funding from an SBA-backed lender? The process can start with counseling from one of the SBA’s 900 small business development centers around the country. The counselors will help you evaluate the most promising sources of funding for your business – and they do it free of charge.

To learn more about the SBA’s goals for the Advantage loan programs, check out this video of Karen Mills, head of the SBA, hosted by Inc.com.

Sources:

http://www.sba.gov/content/small-loan-advantage

http://www.sba.gov/advantage

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