Get Department Of The Interior A - SBA - Sba

Where Does the SBA Get Its Funding? The SBA receives an annual budget approved by the federal government. This money goes toward salaries, grant and loan programs, and administrative costs. Keep in mind that the SBA doesn't actually provide loans to small businesses.

The administrator of the Small Business Administration is responsible for overseeing the programs that assist small businesses in obtaining loans and loan guarantees, as well as contracts, counseling sessions, and other forms of assistance.

Meet size standards The SBA assigns a size standard to each NAICS code. Most manufacturing companies with 500 employees or fewer, and most non-manufacturing businesses with average annual receipts under $7.5 million, will qualify as a small business. However, there are exceptions by industry.

SBA was created in 1953 as an independent agency of the federal government to aid, counsel, assist and protect the interests of small business concerns; preserve free competitive enterprise; and maintain and strengthen the overall economy of our nation.

An SBA loan is a small-business loan that can help cover startup costs, working capital needs, expansions, real estate purchases and more. This type of financing is issued by a private lender but backed by the federal government.

The administrator of the Small Business Administration is the head of the Small Business Administration of the United States. The administrator is responsible for managing and the day-to-day operations of the agency.

The U.S. Small Business Administration's (SBA) Office of Inspector General (OIG) provides independent and objective oversight to improve the integrity, accountability, and performance of SBA and its programs for the benefit of the American people.

Pandemic response oversight Learn about OIG's oversight of SBA's programs and operations that are intended to mitigate the economic impact of the COVID-19 pandemic.