Starting a new business or upgrading an existing one can be very exciting. To be able to qualify for a small business administration grant, a small business must be able to pass the needed requirements. Most of the factors that support a small business surviving are well known, such as access to capital and owner’s education level. The SBA also provides loans to victims of natural disasters and specialized advice and assistance in international trade.
Help can usually be obtained from SCORE, Small Business Development Centers, Certified Public Accountants (CPAs) and consultants who are available in many communities. As your Business Advisor I provide confidential discussions and resources to help you to make a better informed business decisions.
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 owned and operated venture capital investment firms. I got so much great advice and encouragement from Charles and TSBDC when I started my business.
The best suggestion I can offer is to download a very simple and basic business plan template from Microsoft’s website. Small Business Administration has designed a one-stop shop to help the entrepreneurs meet all of their small business needs. At the menu prompt, select 6, then extension 3875 to speak to a Business Services representative.
Small Business Administration loan specifications are put in place to ensure that all applicants are fully aware of both the advantages and drawbacks of what lies ahead. The Small Business Administration urges all interested parties to find an experienced commercial lending broker who will be able to help tighten up any loose ends that may exist. The SBA also requires business owners to pledge personal assets and sign as a personal guarantee for the loan.