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How the Small Business Administration can help your small business
The Small Business Administration in the United States provides commercial financing for qualified small businesses.The Small Business Administration will either provide the financing itself, acting as the lender in the agreement.Or the Small Business Administration will choose to insure another commercial lender who agrees to provide commercial financing to a riskier small company or start up business.
The Small Business Administration also offers the option of paying off your Small Business Administration financing loan online.There are a number of different online courses that are offered for free through their website.There are also tools to help you determine your budget for the year, along with marketing resources and ideas. As just one example of the help that the Small Business Administration can offer you as a small business owner, consider the advice that they give when it comes to finding financing for your business.The Small Business Administration not only backs loans or offers loans itself, it also helps you prepare for your loan interview and your loan application process. No matter which approach you decide to take to financing your business, you need to start with an actual financial plan.Once again, the SBA offers templates and directions on their website to help you come up with an idea of what your finances are and what they need to be. You will need to collect the following information to adequately understand where you are, where you want to be, and what you need to get there.
The strength of your financial statements will help determine what kind of loan you will qualify for and the terms of that loan.You need to have a concrete plan in place before you seek funding from any source, whether it is commercial or if it is a governmental source.Come up with a precise plan for marketing your product, come up with financial statements, and be as precise as possible.All commercial lenders will require this information, and it will help you out also as you understand how your business is going to work and what you can expect in terms of investment and profit. The Small Business Administration also provides help for budgeting your company.The Small Business Administration through both its regional offices and through its website can provide you with resources on both a national level and on a local level to help you work out all of the different issues involved with owning your own small business. The Small Business Administration can also help you figure out how to comply with various OSHA guidelines, though you will also want to contact your regional OSHA office or look at the OSHA website at www.osha.gov.
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The SBA has played a vital ... (Below threshold)
Debt Relief:
September 29, 20085:20 PM | Score: 0
The SBA has played a vital role in geting our business off the ground and running.I think most peole overlook the SBA, however they are a tremendous organization.
Posted by Debt Relief| September 29, 20085:20 PM Score: Posted on September 29, 2008 17:20