The Small Business Administration is a governmental agency that guarantees small business loans made from lenders. Many business owners have been looking for capital to help grow and expand their business, and their workforce as well, but many people feel that lenders are not providing the access to credit in order for businesses to do this.
However, the Small Business Administration has been able to guarantee a higher percentage of small business loans over the past few months, as certain legislation has given them the funding to do more when it comes to helping small businesses get a loan. Many small business owners have been helped by this type of loan, as a loan that is guaranteed by the SBA is more likely to be made available by lenders.
Some lenders have said that business owners are worried they will be unable to pay back loans so they have been unwilling to borrow. There are some areas where businesses are still struggling and may be on an unstable ground, so borrowing for these businesses might not be the best option at the present time.
Yet, the goal of the small business administration is to make capital available, through lenders, so that small businesses who can grow and benefit from access to a small business loan will be able to obtain the funding they need to help their business.
There are a variety of resources at the SBA’s website which can help business owners not only find lenders who may be able to provide them with a small business loan, but also there are a variety of other assistance tools that are available to help small businesses make their company more proficient.