After reading the paragraph, Meadows told reporters he would go through the CBO analysis more thoroughly and run the numbers, adding he would work to make sure the high-risk pools are properly funded. If a business with a Disaster Relief Loan defaults on the loan, and the business is closed, the SBA will pursue the business owner to liquidate all personal assets, to satisfy an outstanding balance. Small Business Administration 504 loan programs offer long term financing opportunities to be used for fixed asset purchases by small businesses.
SCORE volunteers work with the SBA to provide small business mentoring and training to entrepreneurs through SBA offices. SBA will continue to support small business access to capital by increasing the number of lenders participating in the flagship 7(a) loan program (including the Community Advantage pilot program).
The 7(a) Loan program is the federal government’s primary small business loan program, assisting small businesses to obtain financing when they do not qualify for or otherwise have access to traditional credit. It was the first such incident for the business after over four years of successful operation.
SBA will increase small business access to capital by increasing the number of new or returning lenders in the fiscal year for the flagship 7(a) program (including the Community Advantage pilot program). The SBA takes this responsibility seriously as the strongest voice for small business across the Administration.
Maximize small business participation in federal government contracting to meet the statutory goals and reduce participation by ineligible firms. Graduate from this program and you will have acquired the skills necessary to research, develop and manage a small business, grow an existing business or virtually anything else related to successful entrepreneurship.