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Since the SBA has formed partnerships with third-party lenders, community development organizations, and microlending institutions, these third-party partners will then be able to directly provide you with loans and other forms of financial assistance. This setup is basically similar to procuring a commercial loan, but it is easier and more efficient because the SBA will serve as your guarantor, meaning it will assure the third-party partner that you have the capability of repaying the loan and that you will, without a doubt, repay it.
The Small Business Administration is largely responsible for providing indirect financial assistance to entrepreneurs and small business establishments. In most cases, the primary role of the SBA is to provide several financial assistance program to small business that have been specially designed to meet essential financing needs. |
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The Bonding Program, also known as the SBA’s Surety Bond Guarantee (SBG) Program, can help small business contractors obtain surety bonds by way of standard commercial channels. To understand this better, a small business owner should first know what a surety bond is.
A surety bond is an agreement between a surety (someone who agrees to assume responsibility for the debt of the primary borrower in cases wherein the borrower fails to assume his or her responsibilities), a small business contractor and a project owner.
Through the SBG program, the SBA will enter into an agreement with a surety stipulating that the SBA will take responsibility for a percentage of loss in the event that the primary borrower fails to adhere to the terms of the loan agreement.
The Venture Capital Program, on the other hand, was designed to work through the SBA’s Small Business Investment Company (SBIC) Program wherein the SBA could indirectly provide venture capitals to small businesses and small business owners.
Small Business Investment Companies are privately-owned and managed investment funds that are licensed and regulated by the SBA. These companies could help small businesses by providing them with funds in the form of debt or equity, just like venture capital, private equity and private debt funds. However, they differ in a way that SBICs will only restrict their investments to eligible small business concerns that are defined by the SBA.
If you wish to know more about the programs and functions of the SBA, you can visit their website at http://www.sba.gov/.
How The Government Can Help Your Small Business
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About The Author Iola Bonggay is an editor of TopGovernmentGrants.com one the the most comprehensive Websites offering information on government grants and federal government programs. She also maintains Websites providing resources on environmental grants and grants for youth programs. |
Additional Government Grants Resources
Law & Social Sciences Program
In line with this mission, the NSF has constituted the Law & Social Sciences Program wherein it aims to solicit proposals that will address social scientific studies of law and law-like systems of rules.
Homeownership Program for First Time Homebuyers in Connecticut
The Connecticut Housing Finance Agency has established the Homeownership Program wherein it intends to provide reasonable home loans with below-market interest rates to tenants occupying publicly assisted housing who wish to transition from renting into homeownership.
Effect of Physicochemical Properties of Ophthalmic Formulations on Ocular Bioavailability Program
In this capacity, the Food and Drug Administration has recently established the Effect of Physicochemical Properties of Ophthalmic Formulations on Ocular Bioavailability Program in an attempt to study the effects of various physicochemical properties of ophthalmic suspensions and emulsions on ocular bioavailability.
Disaster Relief Loans from GovLoans
GovLoans is a website created by the United States Federal Government that is designed to serve as the public's gateway to loan program information. One of the several kinds of loans that are featured in the GovLoans website are Disaster Relief loans.
Connecticut Housing Finance Agency Mortgage Programs for Military, Police and Teachers
The Connecticut Housing Finance Agency has established the Mortgage Programs for Military, Police and Teachers so as to provide reasonable housing opportunities to veterans and active duty service members of the United States Military, the National Guard, along with teachers and police officers who are assigned in under-served areas.
Excellence in Hemoglobinopathies Research Award Program
The National Institutes of Health has formed a collaboration with the National Heart, Lung, and Blood Institute (NHLBI) in an effort to establish the Excellence in Hemoglobinopathies Research Award Program wherein both agencies have agreed to financially support the creation of studies that could potentially improve high-impact multi-disciplinary basic and translational research studies in the hemoglobinopathies.
Center for Disease Control and Prevention: Training for States on Winnable Battles
The purpose of the Training for States on Winnable Battles program is to enable the CDC to offer training, educational materials, and technical assistance to legislative executives and administrative branches of states.
Social Entrepreneurship
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Change in the World of Work and Enterprise: Get Young People Into Work
The position young people are dealt with can be complex, and yet the entire economic system is still focused for an age that’s almost gone astray. The solution? Promoting social enterprise and getting these young people integrated into work.
