SBA Loans - Is the SBA Really FOR Small Business - Good Cents

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!

sba loans

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

 

or

 

(B.) a loan for small to medium businesses who EXPORT and have been in operation for at least 12 months.

SBA Loans

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

 

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