Small Business Administration Service is an agency that is used by the government to provide financial support to upcoming small businesses. The mission of the agency is to strengthen the economy of the nation through assisting these small and sometimes undermined enterprises. This is done by providing start up loans to fund a venture so that they can kick off. Sometimes it does not give the loans directly, but it acts as a guarantor on bank loans.
In other cases, SBA seeks to re-establish victims of natural disasters, such as floods and fire. It gives some sort of compensation to such people so that they can continue with their ventures. It does this by providing managerial, technical and training support. According to statistics, SBA has so far helped over 20 million enterprises, with over 200,000 loans worth over 40 million dollars.
For the smooth running of SBA there is an organizational structure in the agency, which is in control of the all the operations that are involved therein. For example, there are the Communications and Liaison offices that handle all correspondence, both internal and external. The Disaster Assistance offices deals with victims of natural disasters, while the Equal Employment Opportunity and Civil Rights Compliance office seeks to see to it that all enterprises get equal chances to being funded and established. Other offices include the Entrepreneurial Development, Congressional and Legislative Affairs, Field Operation, Government Contracting and Business Development Hearings and Appeals.
The SBA had faced a lot of challenges in its establishment and existence, but so far so good. The Bush Administration once tried to wipe the agency out by cutting off the budgetary allocation. The loan arrangements are organized into a number of programs that function in regard to specific situations. For more information, consult your local library.
