An Overview Of The Small Business Administration

Small Business Administration or SBA is a United State government agency that works independently to protect the interests of small businesses and provide them a chance to receive fair percentage of all possible government contracts. The aim of this federal government organization is to assist small and unprivileged business owners in receiving different government programs and opportunities that ensure their potential business growth and success.

The Mission

The organization was found in July, 1953 largely as a response to the economic turmoil that emerged due to the Depression and World War II. Since its inception, the stated mission of the Small Business Administration has been to: "Maintain and strengthen the nation's economy by aiding, counseling, assisting and protecting the interests of small businesses and by helping families and businesses recover from national disasters." Over time different contracts and initiatives have been included within the SBA programs to make it more affective and advantageous. Today, the SBA program includes facilities like advice, loans and government contracts for minorities, veterans and women.

How it Works

The structure of the SBA development program has been designed to provide support to small business owners by offering them loans, backing them with loans from other lenders and most importantly counseling them. These counseling sessions are carried out by the Administration with help from several resource partners, which includes Small Business Development Centers, the Service Corps of Retired Executives or SCORE, the Veterans' Business Outreach Program, Women's Business Centers and several other SBA lenders. Counseling, training programs and all other required resources are provided by the Small Business Administration in conjunction with these recourse partners.

SBA Programs

Depending on its objective and approach, SBA programs can be divided into several broad segments under which all specified sections are listed and maintained. The programs are classified as:

- Technical Assistance

- Financial Assistance

- Contracting Assistance

- Disaster Assistance Recovery

- Special Interests

- Advocacy, Laws & Regulations

- Civil Rights Compliance or CRC