Functions: Provides financial assistance to small businesses and investment companies and to state and local development companies. Sample case files relating to applications for business loans that were declined, canceled, or withdrawn, 1954- 55. Minutes of meetings, and conference proceedings, of the National Advisory Council and of regional and state advisory groups, 1954-68.
The SBA is authorized under this program to make direct loans to eligible and qualified intermediary lenders who will use those loan proceeds to make short-term, fixed-interest rate loans to start-up, newly established and growing small business concerns.
Although your probabilities of finding the mortgage you need to have are considerably greater in case you go by means of an SBA loan agency, you ought to nonetheless you do your component to impress the financial institution to boost your chances even additional of obtaining the mortgage by possessing a fantastic business strategy and presentation to current.
While these home-based business are operated in a nontraditional work environment, in perhaps a nontraditional style of operation, they are nonetheless the same as other businesses in the style of carrying inventory, making purchases for the business, marketing the business, and creating a web presence.
The idea behind the SBA-backed loans was that the commercial banking system wasn’t offering small business owners the same types of access to capital to start, grow, and keep their businesses functioning that those financial services institutions offer to larger businesses – given that they often have more assets and collateral, a larger cash flow, and a lengthier and more proven credit history.