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Small Business Administration(SBA)

Small Business Administration(SBA). By: Max Falcon Josh Harris Sean “The Rock” Calleja. Who is the SBA?. A United States government agency Provides support to entrepreneurs and small businesses Their mission is to maintain and strengthen the economy. SBA loans.

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Small Business Administration(SBA)

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  1. Small Business Administration(SBA) By: Max Falcon Josh Harris Sean “The Rock” Calleja

  2. Who is the SBA? • A United States government agency • Provides support to entrepreneurs and small businesses • Their mission is to maintain and strengthen the economy

  3. SBA loans • SBA loans are made through banks, credit unions, and other lenders • There are many different types of lending programs designed to help small businesses obtain financing • The loan guarantee program is designed to help small entrepreneurs start or expand their businesses.

  4. SBA loans (cont’d) • Types of lending programs (cont’d) • The 504 Asset Financing Program is a program that provides funding for the purchase of construction or real estate. • Homeowners are eligible for long term low interest loans to rebuild or repair a damaged property called disaster assistance loans.

  5. The seven requirementsfor SBA loans • Personal Background and resumes • Business plan • Personal and business credit report • Financial and bank statements • Income tax returns • Collateral • Legal documents

  6. Seven wonders of the world

  7. Why we need Small businesses • Over 40% of our national income comes from small businesses • There are an estimated 27 million small businesses in the United States. • An astonishing 97% of all exporters are small businesses • 98% of all employer firms come from small businesses

  8. C-Corporations • C-Corporations are corporations that are taxed separately from its owners. • Pros of C-Corporations: • Liability protection-your personal assets will not be affected by the actions of the corporations • Taxes-Unless you or your shareholders receive dividends, you will not be taxed on the companies income

  9. C-Corporations(Cont’d) • Perpetual existence- a C-Corporation will exist indefinitely, even if a owner or shareholder leaves • Cons of C-Corporations • Higher costs-Corporations pay a number of state and federal filing fees. Each state also has its own set of regulations • Double Taxation-Owners of the corporation pay a double tax on the earnings of the company

  10. WORKS CITED  • http://smallbiztrends.com/2010/07/small-business-news-we-need-you.html • http://poorrichard.wordpress.com/2007/02/12/why-we-need-small-business-part-two/ • http://www.vivalagames.com/play/curveball/fullscreen.php

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