How Can Your Small Business Benefit From SBA?

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Running a small business can be challenging, but those challenges are something many business
owners deal with. According to SBA statistics, only 0.01% of businesses in the United States aren’t
classified as small businesses. If you’re having trouble securing small business loans and running your
business, here’s how SBA can help.

Getting a Loan

Small business loans are a key part of running a small business. You need access to capital to run a
business, even if you don’t have as much overhead as bigger businesses. Securing a loan typically
means having a good credit score and low credit utilization, but SBA loans are specifically designed to
give small business owners easier access to loans. SBA loans may offer lower down payments, longer
loan terms, and there’s a cap on interest rates with these loans, which makes them a great choice for
small business owners.

Securing Contracts

In addition to providing small business loans for small business owners, the SBA can also help you
secure government contracts that can help boost your business. These contracts can be difficult to get
on your own, which is why providing small businesses access to government contracts is one of the
primary missions of the SBA. The SBA works hard to make sure 23% of the money from government
contracts goes to small businesses, so you can receive steady contracts as a small business owner.

Developing Your Business

Last but certainly not least, the SBA provides access to affordable training and counseling through its
business centers all across the country. The SBA also partners with SCORE, which is a nationwide
network of business mentors who can offer advice and help to small business owners. SCORE has
more than 13,000 volunteer business counselors across the country, and there are more than 1,800
SBA small business centers in the United States. If you’re having trouble figuring out how to grow and
develop your business, the SBA can help.

Owning and operating a small business doesn’t mean you need to do everything on your own. The
SBA provides resources for small business owners, including access to small business development

centers (SBDCs), government contracts, and small business loans. If you need help getting working
capital for your business or learning how to grow and develop your small business, give us a call and
we’ll help you get everything figured out.