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Small Business Administration (SBA)
       
 
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Small Business Administration (SBA)

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Small Business Administration (SBA)
Operated by U.S. Government, this federal agency Will guarantee loans to qualified borrowers.
     
It acts as co-signer, ensuring banks that it Will pay off the loan if the business owner is unable to do so. Business banks often use the SBA to guarantee for loans that may be considered riskier than loans they might normally make.
    
Its mission is to maintain and strengthen the Nation's economy through aiding, counseling, assisting, and protecting the interests of small businesses and by helping businesses and families recover from economic and other disasters. The organization and management of the SBA consists of an administrator and deputy administrator, appointed by the president and approved by the United States Congress; field office directors; and administrators for the various program areas.
    
The agency is also responsible for providing loans to homeowners and renters that have been victims of presidentially declared disasters. Presidential declarations automatically make disaster assistance available to victims if they meet qualifications. The Department of Agriculture and state governors also have the authority to request declarations on areas affected by disasters in their jurisdictions. Over 80% of the loans processed by the agency are for home owners and renters.
Posted by  Convention of Independent Financial Advisors CIFA, Marcus Evans (ANZ) Limited
 
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