Is the SBA really for Small Business?
In October 2010 I was approved for an SBA loan which I used to expand my business and hire another employee. It was a great program, easy to apply to and obtain if you had the proper credentials like decent account receivables and a good credit score. I recently referred a client to the program I used, and I found out it was terminated by the SBA in April of 2011!
I used the lender I did because they are one of the largest SBA lenders in the US. Now the only two programs this particular company offers are
(A.) A loan to Veterans or their kin
(B.) a loan for small to medium businesses who EXPORT and have been in operation for at least 12 months.
I recently saw a post from someone who said small business could turn the economy around if all of them hired at least 1 person. I would really love to know what prompted the SBA to cut off a program that could be so instrumental in rebuilding our economy and helping our entrepreneurs. #dumbideas