Just starting your business or don’t have access to traditional business financing? HUBZone – The Historically Underutilized Business Zones (HUBZone) program helps small businesses in urban and rural communities gain preferential access to federal procurement opportunities. There are a number of general qualifications that must be met before a business can obtain a SBA guaranteed loan.
The Investment Company Act of 1958 established the Small Business Investment Company (SBIC) Program, under which SBA licensed, regulated and helped provide funds for privately operated and operated venture capital investment firms. The Small Business Administration provides a wealth of free resources on its website to help you start or manage your business.
Patriot Express loans can be used for most business purposes, including startup, expansion, equipment purchases, working capital, inventory or business-occupied real-estate purchases. In fact, small businesses as defined by the Small Business Administration represent 99.7 percent of all the employers in the country and employ half of all private sector employees.
The line between an owner-manager and an entrepreneur can be defined by whether or not their business is growth oriented. Congressional interest in small business access to capital, in general, and the SBA’s 7(a) program, in particular, has increased in recent years for three interrelated reasons. Start your own business, acquire 100% of an existing business or pay fees to start a franchise.
In these programs, the SBA guarantees a portion of the loan to the issuing bank, and thus, relieves the bank of some of the risk of extending the loan to a small business. SBA provides a wide variety of contracting opportunities intended to help small businesses compete for long-term federal business.