September 2, 2008
If you missed the last edition,
The Truthiness of Fundiness,
click to get there!
Your
First Stop for SBA Loans
The SBA was established to help fund small businesses,
something that traditional banks have been reluctant to do. For
the most part, the SBA has done exceptionally well. For the most part
the SBA provides loan guarantees to banks, but it also provides a huge
amount of additional funding and information.
It is, in fact, a real treasure trove of funding and
information for most small businesses.
From the
microloan program to
training
programs to
loan programs
of all sort, it is hard to find fault with the SBA. Yes, they
have been very lax in supporting federal contracts for women and
minorities. And, yes, they do put too much of their funding into
very big businesses disguised as small business.
But where else can anyone walk into an office of the
government and find people actually anxious to help them succeed in
business? When you do stop by your local SBA office, here are some
questions you will want to ask:
1. What training programs do you have in this area?
2. What is the
mentor-protegee program, and do I qualify?
3. Do you have
roundtables
for my group?
4. How do I approach various levels of government
for contracts?
5. How do I qualify as a minority entrepreneur?
6. Which are the best SBA banks in this area?
That should be enough to get your conversation off and
running. The further along you are in building your business plan,
the more they will be able to help. If there is particular
information you need, ask. If you need a referral to a bank, ask.
The worst that the SBA counselor will tell you is that they don't know.
And odds are that they will know.
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