What is the SBA?

Although business startups are forming every day, still many of the current new entrepreneurs dont know about the SBA. The United States Small Business Administration is a government sponsored agency who is 100% dedicated to the growth of the small business community. According to SBA, they have these goals:

The SBA officially opened its doors in 1953 but it was around in various forms long before. During the Korean War, the Small Defense Plants Administration was established as a way to help small businesses during war time. Before that, all the way back to the Reconstructive Finance Corporation which was established to help small businesses recover from the devastating effects of the Great Depression.

Prior to the recent day Great Recession the SBA was only a small part of the Federal budget. Once the Great Recession struck, congress doubled the SBA budget. They used nearly all of this money to increase the amount of guaranteed loans to small businesses. This, according to SBA chief Karen Mills, has added a massive amount of funds available to small businesses to assist in a time of crisis for small businesses.

Today, the SBA budget is projected to be cut significantly but their reach hasnt changed. If youre a small business, go to the SBA website and look for information on these programs:

These programs and many more are available through the SBA. If youre a small business owner and havent thoroughly explored their website, you may be missing out on a great opportunity to partner with a government agency in existence exclusively for your type of business.