The U.S. Small Business Administration or SBA was established on July 30, 1953 to encourage and support small business ventures in the United States that have a record of helping in making the country’s economy stronger.

The SBA is an independent agency of the federal government and has been aiding, counseling, assisting, and protecting the interests of small businesses since its inception and continues to do so the same.

Small Business Administration claims itself to be building America’s future, critical to the United States economic strength, and to helping America compete in today’s global marketplace.

The bottom line mission of the SBA is the same even after its growth and evolvement since its beginning. Americans are getting help in starting, building, and growing their businesses from this establishment. SBA’s partnerships with private and public organizations and extensive network field offices help it provide its services and programs to people not only in the United States, but also in Puerto Rico, the U.S. Virgin Islands, and Guam.

Numerous loan programs for small businesses are offered by the SBA. It is of importance to get reminded here that the SBA does not give loans to small business itself but acts as a primarily guarantor of loans made by private and public loan institutions. Most popular loan programs offered by the SBA are:

• Basic 7(a) Loan Program (SBA’s primary business loan program)

• Disaster Recovery (The SBA’s loan program for the residents or businessmen/women of declared disaster area or disaster victims)
  
  
• CDC/504 Program (A variation of Basic 7(a) Loan Program that provides long-term, fixed-rate financing to small businesses to get machinery or equipment or real estate for expansion or modernization)

• Pre-qualification Program (Another variation of Basic 7(a) Program that allows business applicants to have their loan applicants for $250,000 or less analyzed and potentially sanctioned by the SBA before they are taken to lenders for consideration)
  
  
• Micro-Loans (Another variation of Basic 7(a) Loan Program that provides short-term loans of up to $35,000 to small businesses)