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Why are Small Businesses Important?
28 Million Small Businesses in the U.S. Two of Three Net New Private Sector Jobs
Drivers of Innovation
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Mission
U.S. Small Business Administration
• Aid, Counsel, Assist and Protect the Interests of Small Business Concerns • Preserve Free Competitive Enterprise • Maintain and Strengthen the Overall Economy 3
SBA Footprint
Legend SBA District Offices (68)
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Small Business Development Centers (938) SCORE Centers (356) Microlenders (199) Women’s Business Centers (110) U.S. Export Assistance Centers (19) Veterans Business Outreach Centers (16)
Region 1 Region 2 Region 3 Region 4 Region 5 Region 6 Region 7 Region 8 Region 9 Region 10
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The U.S. Small Business Administration
Capital
• SBA guarantees loans made by private institutions.
Counseling
• Free counseling to entrepreneurs, & small businesses • District Office, SBDC, WBC and SCORE
Contracting
• Ensuring 23% of federal contracts go to small firms
Disaster Assistance
• Direct loans to homeowners and businesses
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Access to Capital for Small Businesses
The SBA provides access to capital through loan guarantees for private loans.
SBA 504 Loan Program • Provides small businesses with long-term, fixed rate financing • Used to acquire fixed assets for expansion or modernization • The maximum 504 loan size is $5 million
SBA 7(a) Loan Program • Provides financial help to small businesses with specific requirements • These include loans to businesses in underserved communities, rural areas, and loans for businesses developing export programs.
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Counseling and Training Services for Small Businesses
The SBA and its resource partners provide free business counseling and training. SCORE Association
Small Business Development Centers (SBDC)
Women’s Business Centers (WBC)
Online Training Courses • sba.gov/sba-learning-center
In 2012 SBA resource partners counseled and trained 1,119,510 small businesses 7
Additional Information There are a number of resources available to help answer questions various programs:
Visit our website: http://www.sba.gov/
Visit a Resource Partner:
Small Business Development Centers: http://www.asbdc-us.org/
SCORE Association: http://www.score.org/
Women’s Business Centers: http://www.sba.gov/local-assistance/wbc
Call the SBA Answer Desk: 1-800-U-ASK-SBA (1-800-827-5722)
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