Week 4
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  • 1. SBA Small Business Administration
  • 2. SBA History and Overview
  • 3. SBA TimeLine RFC SWPC SBA SBIC EOL 1932 1942 1953 1958 1964 Now The Small Business Administration (SBA) was founded in 1953. its missions and principles were based on predecessor agencies, which were created as responses to the Great Depression and World War II. (US Small Business Administration, n.d.)
  • 4. SBA TimeLine RFC SWPC SBA SBIC EOL 1932 1942 1953 1958 1964 Now The Reconstruction Finance Corporation (RFC) was created in 1932 to alleviate the financial crisis of the Great Depression. The RFC was a federal lending program for all businesses hurt by the Depression, large and small. (US Small Business Administration, n.d.)
  • 5. SBA TimeLine SWPC RFC SBA SBIC EOL 1932 1942 1953 1958 1964 Now Congress created the Smaller War Plants Corporation (SWPC) in 1942 to help small business participate in war production jobs and help them survive financially. The SWPC was dissolved after the war and rolled into the RFC. (US Small Business Administration, n.d.)
  • 6. SBA TimeLine RFC SWPC SBA SBIC EOL 1932 1942 1953 1958 1964 Now The Office of Small Business (OSB) in the Department of Commerce was created after WWII and offered educational services. The OSB was created on the basis that the lack of information and expertise was the main cause of small business failure. (US Small Business Administration, n.d.)
  • 7. SBA TimeLine SBA RFC SWPC SBIC EOL 1932 1942 1953 1958 1964 Now In 1952, there was discussion of abolishing the RFC. To continue the services of previous agencies, President Dwight Eisenhower proposed creating the Small Business Administration (SBA) Congress created the Small Business Administration in the Small Business Act of July 30, 1953. This act stipulated that the SBA would ensure a “fair proportion” of government contracts to Small Businesses. (US Small Business Administration, n.d.)
  • 8. SBA TimeLine SBIC RFC SWPC SBA EOL 1932 1942 1953 1958 1964 Now The Investment Company Act of 1958 established the Small Business Investment Company (SBIC) Program, under which SBA licensed, regulated and helped provide funds for privately owned and operated venture capital investment firms. The SBIC specialized in providing debt and equity finances to high-risk small businesses. The SBIC was created due to the fact that small business couldn’t get the credit they needed to keep pace with high technology firms. (US Small Business Administration, n.d.)
  • 9. SBA TimeLine EOL RFC SWPC SBA SBIC 1932 1942 1953 1958 1964 Now In 1964, SBA created the Equal Opportunity Loan (EOL) Program. The EOL Program relaxed the credit and collateral requirements for applicants living below the poverty level in an effort to encourage new businesses that had been unable to attract financial backing, but were nevertheless sound commercial initiatives. (US Small Business Administration, n.d.)
  • 10. SBA TimeLine RFC SWPC SBA SBIC EOL 1932 1942 1953 1958 1964 Now SBA's programs include: •financial and federal contract procurement assistance •management assistance •specialized outreach to women, minorities and armed forces veterans. The SBA also provides loans to victims of natural disasters and specialized advice and assistance in international trade. (US Small Business Administration, n.d.)
  • 11. SBA About SBA & Guiding Principles
  • 12. About SBA “The U.S. Small Business Administration (SBA) was created as an independent agency of the federal government 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.” The SBA helps Americans Start, build and grow businesses. (US Small Business Administration, n.d.)
  • 13. Guiding Principles Creativity Our people inspire creativity in the American economy by developing and supporting entrepreneurs through a vast network of resource partners. Advocate We advocate for all small businesses by taking leadership in building a productive partnership between the American people and its government. Results Our team focuses on delivering results for small business, being accountable, accessible and responsive. Empower We empower the spirit of entrepreneurship within every community to promote and realize the American dream. Success We facilitate the environment necessary for America’s small businesses to succeed, measuring our performance by small business success. (US Small Business Administration, n.d.)
  • 14. SBA Services
  • 15. Services SBA-backed Financing Government contracting opportunities Disaster assistance Training programs Counseling Legal information (US Small Business Administration, n.d.)
  • 16. Services Small Business Planner The Small Business Planner includes information and resources that will help you at any stage of the business life-cycle. Planning a Business Starting a Business Managing a Business Getting out of a Business (US Small Business Administration, n.d.)
  • 17. SBA Financing
  • 18. SBA Backed Loans (Debt) SBA does not provide any direct loans or grants to small businesses. If the borrower has access to other financing with reasonable terms, the SBA will not guarantee a loan. If a lender determines the application has weaknesses, they may require a guaranty from the SBA. The SBA can guaranty up to 85% of a small business loan. Financing a Small Business - Featuring Jim Hammersley, Director Office of Financial Assistance Loan Programs U.S. Small Business Administration SBA's business loan programs provide a key source of financing for viable small business that have a real potential, but may not qualify for loans from traditional sources. (US Small Business Administration, n.d.)
  • 19. SBIC Financing (Equity) Small Business Investment Companies are privately owned and managed investment firms that are licensed by the SBA. With the private capital they raise and with funds borrowed at favorable rates through SBA, SBICs provide financing in the form of debt or equity to small businesses. (US Small Business Administration, n.d.)
  • 20. Surety Bonds A surety is a person who agrees to be responsible for the debt or obligation of another. SBA reimburses a participating surety for the losses incurred as a result of a contractor's default on a guaranteed bond. A surety bond is an instrument between a surety, the contractor and the project owner. The agreement binds the contractor to comply with the terms and conditions of a contract. If the contractor is unable to successfully perform the contract, the surety assumes the contractor's responsibilities and ensures that the project is completed. (US Small Business Administration, n.d.)
  • 21. SBA Resources
  • 22. Resources US Small Business Administration. (n.d.). About SBA. Retrieved October 21, 2008, from Small Business Administration: http://www.sba.gov/aboutsba/index.html US Small Business Administration. (n.d.). Guiding Principles. Retrieved October 21, 2008, from Small Business Administration: http://www.sba.gov/aboutsba/principles/index.html US Small Business Administration. (n.d.). Intro to SBA Finance. Retrieved October 21, 2008, from Small Business Administration: http://www.sba.gov/services/financialassistance/Introsbafinance/ index.html US Small Business Administration. (n.d.). Overview & History. Retrieved October 21, 2008, from Small Business Administration: http://www.sba.gov/aboutsba/history/index.html US Small Business Administration. (n.d). Services. Retrieved October 21, 2008, from Small Business Administration: http://www.sba.gov/services/index.html US Small Business Administration. (n.d.). Small Business Planner. Retrieved October 21, 2008, from Small Business Administration: http://www.sba.gov/smallbusinessplanner/index.html