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U.S. Small Business Administration Programs & Services

U.S. Small Business Administration Programs & Services. SBA Mission Statement. “To maintain and strengthen the Nation’s economy by enabling the establishment and vitality of Small Businesses and by assisting in the economic recovery of communities after disaster.”.

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U.S. Small Business Administration Programs & Services

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  1. U.S. Small Business Administration Programs & Services

  2. SBA Mission Statement “To maintain and strengthen the Nation’s economy by enabling the establishment and vitality of Small Businesses and by assisting in the economic recovery of communities after disaster.”

  3. SBA Partner to the Entrepreneur

  4. 7(a) Loan Program Regular 7a • Guarantee 85% of Loans <$150,000 • Guarantee &5% of loan .$150,000 up to $2 million • Loan Proceeds: Refinancing, Purchase Land or buildings, Line of Credit, Working Capital, or Inventory. Flexibility The Recovery Act • Guarantee 90% on all 7(a) Loans: Standard 7(a), CLP, PLP Community Express, Patriot Express Export Express Gulf Opportunity EXCEPT: SBA Express 50% Gty.

  5. 7(a) Higher Guaranty Extended • 7(a) 90% guaranty has been extended until February 28, 2010 or earlier if funds are exhausted

  6. Elimination of Guaranty Fees • 7(a) Loan Guaranty fees paid by the borrowers • 504 Development Company program fees paid by the borrowers • Guaranty fees elimination has been extended until February 28, 2010 or earlier if funds are exhausted

  7. 7(a) Loan Program • Terms ▪7 to 10 years for working capital and equipment ▪ Up to 25 years for fixed assets: - real estate and construction • Interest Rates ▪ Negotiated between borrower and lender ▪ Typically cannot exceed prime rate plus 2.75%

  8. ARC LOAN PROGRAM • New, temporary, guaranteed loan program • Up to $35,000 • Interest-free to borrowers • Deferred payment loan • SBA pays interest to lender at WSJ Prime + 2 • No fees charged by SBA or Lenders to borrowers, other than direct costs of securing and liquidating collateral Loans available until funds run out or 9/30/2010

  9. Loans up to $500,000 85% on loans of $150,000 or less 75% on loans over $150,000 Terms: same as 7(a) loan Use of proceeds: same as 7(a) loan Interest rate: 2.25% TO 4.7 over prime Patriot Express Loan

  10. Federal Procurement Opportunities • 8(a) Business Development Program • Socially & Economically Disadvantaged • Small business concern • 51% Ownership required • Owned by a U.S. citizen • Day to Day Control • For businesses in operation 2+ years • $250,000 personal Net Worth

  11. Procurement Opportunities • Small Disadvantaged Business Program • Socially & Economically Disadvantaged • 51% Ownership required • Day to Day Control • For businesses in operation 2+ years • Other persons, including women & persons of any race • $750,000 personal Net Worth

  12. SBA RESOURCES PARTNERS FREE ONE ON ONE COUNSELING BUSINESS and MANAGERMENT • Small Business Development (SBDC) (803) 777-5118 • SCORE (Counselors to America Small Business (803) 765-5131

  13. U.S. SMALL BUSINESS ADMINISTRATION STROM THURMOND FEDERAL BUILDING 1835 ASSEMBLY STREET, SUITE 1425 COLUMBIA, SC 29201 Telephone: (803) 765-5377 Web Address: www.sba.gov/sc ??? CALL US ???

  14. Thank You!

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