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SBA Programs
Information for Buyers
SBA Programs
Here are some of the loan programs offered by the SBA. For a complete list and details on how to apply, visit www.sba.gov.
7(a) Loans:
The primary SBA loan program helps small businesses that might not be eligible for loans through normal lending channels. Money can be used for a variety of business purposes. The loans are made through commercial lenders and partially backed by an SBA guaranty.
In fiscal 2006, SBA backed 90,483 of these loans.
CDC 504 Loans:
Made through a certified development company, a 504 loan provides long-term, fixed-rate financing for real estate, machinery or equipment. Typically, the loan involves a private-sector lender with a senior lien, a certified development company and at least 10 percent equity from the borrower.
A list of CDCs is on the SBA Web site.
Microloans:
Provide short-term loans of up to $35,000 for working capital or purchases, but can’t be used for real estate. The loan is through a nonprofit community-based lender. The typical microloan size is about $13,700.
A list of microloan intermediaries is on the SBA Web site.
International Trade Loans:
An applicant must establish that the loan will significantly expand or develop an export market and that it is adversely affected by import competition. Proceeds can be used to upgrade equipment or facilities to be used in the United States to improve competitive position.
Disaster Assistance Loans:
Small businesses that have suffered substantial economic injury from a physical disaster may be eligible. SBA provides economic injury loans and physical disaster loans to businesses of up to $1.5 million. SBA also provides disaster assistance to individuals.
Export Working Capital:
Provides short-term working capital when export financing is not available elsewhere on reasonable terms.
Go Online - To help you start or fund a business, check out the resources available at these Web sites (See our "Links" page within "Tools & Articles"):
Small Business Administration: www.sba.gov
Find resources for planning, managing, financing and expanding a business as well as links to local experts. There are free online courses, webcasts, podcasts and more.
SCORE: www.score.org
“Counselors to America’s Small Business” offers free and confidential advice and has 1,300 e-mail counselors who can answer questions within 48 hours.
Office of Women’s Business Ownership: www.onlinewbc.gov
An SBA program offering training and programs to promote the growth of women-owned businesses, including the Online Women’s Business Center.
Small Business Development Center: www.sba.gov/sbdc
SBDCs offer counseling, training and assistance to current and prospective small-business owners through a collaboration of the private sector, schools and governments. Every sate has at least one SBDC.
Internal Revenue Service: www.irs.gov/businesses/small
The IRS has information just for small businesses and the self-employed, including an online classroom and a free newsletter, the e-News for Small Businesses.
Department of Labor: www.dol.gov/osbp/sbrefa
Its Office of Small Business Programs helps employers understand DOL rules and regs.
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