Small Business Administration and SBA Loan Group: Same? Different? What’s it all mean for me as a small business owner?

By Sylina Jacobs-Levy, Contributor

Can our government help small businesses succeed?

Have you ever wondered whether our government can actually help you, a small business owner, help your business succeed? It’s a lofty endeavor especially in today’s challenging business climate. Some would go as far to say that the government has no business helping them in their business.

While this may have been true with some institutions in the past, today one government agency’s sole mission is “[to] aid, counsel, assist and protect the interests of small business concerns, to preserve free competitive enterprise and to maintain and strengthen the overall economy of our nation.” This agency is called the Small Business Administration, commonly known as the SBA. Where we, as citizens, often hear of public-private partnerships, the SBA helps facilitate this type of partnership.

So what does the SBA actually do?

According to the Legal Information Institute at Cornell University Law School, the SBA’s mission is to “provide aids, counsels, assists, and protects the interests of small business concerns, and advocates on their behalf within the government. It also helps victims of disasters. It provides financial assistance, contractual assistance, and business development assistance.” Further research on the SBA.gov website and you will find a wealth of information about starting a business, managing a business, qualifying for loans and grants, contracting, local assistance and an interactive online learning center. The SBA helps all Americans start, build, and grow businesses all across the country and in the U.S. territories of Puerto Rico, the Virgin Islands and Guam.

Capital begets growth:

With capital or access to money, small business owners can grow their businesses. Where the trouble begins is how to get access to this capital. Banks often have strict requirements for lending to creditworthy customers. As creditworthiness declines interest rates increase, rendering access to funds a challenge even for the most creditworthy business owners.

The SBA to the rescue!

Although the SBA does not provide capital directly to small businesses, they partner with SBA-approved lenders and private investors to help small business find access to capital in order to finance their businesses. The SBA provides the guarantee to private lenders to loan to small businesses.

SBA Loan Group:

SBA Loan Group, LLC is one of the many packaging firms in the U.S. that helps small businesses with their financing needs. SBA Loan Group is not a government organization, it’s a private for-profit business, approved by the SBA and follows the SBA regulations and fees to help small business owners access capital. Visit SBA Loan Group and see how we can help you and your business.

Sylina Jacobs-Levy can be reached by email at sylina@sbaloangroup.com and by phone at (347) 533–6261 ext: 210