Small Business Administration

The United States Small Business Administration is a United States Government agency that provides support to small businesses.

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The SBA was officially established in 1953. The United States Congress passed the Small Business Act of July 30, 1953, creating the Small Business Administration (SBA). The SBA's function was to "aid, counsel, assist and protect, insofar as is possible, the interests of small business concerns." The charter also stipulates that the SBA would ensure small businesses a "fair proportion" of government contracts and sales of surplus property. This is accomplished primarily through the Small Business Innovative Research program, in which a portion of government research funds in several Departments are reserved for "small businesses", as well as contracts that are "set aside" (reserved for small business participation only).

Related Topics:
United States Congress - July 30 - 1953 - Small Business Innovative Research

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The SBA already makes direct business loans and guarantees bank loans to small businesses, as well as makes loans to victims of natural disasters, works to get government procurement contracts for small businesses and helps business owners with management and technical assistance and business training.

Related Topics:
Bank - Loan - Small business - Management

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Nearly 20 million small businesses have received direct or indirect help from one or another of those SBA programs since 1953. In fact, SBA's current business loan portfolio of roughly 219,000 loans worth more than $45 billion makes it the largest single financial backer of United States businesses in the nation.

Related Topics:
Small business - United States

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