The U.S. Small Business Administration (SBA), established in 1953, provides financial, technical and management assistance to help Americans start, run, and grow their businesses. With a portfolio of business loans, loan guarantees and disaster loans worth more than $45 billion, in addition to a venture capital portfolio of $13 billion, SBA is the nation's largest single financial backer of small businesses.
Last year, the SBA offered management and technical assistance to more than one million small business owners. The SBA also plays a major role in the government's disaster relief efforts by making low-interest recovery loans to both homeowners and businesses.
America's 25 million small businesses employ more than 50 percent of the private work force, generate more than half of the nation's gross domestic product, and are the principal source of new jobs in the US economy.
Frequently Asked Questions
Q: What is a small business?
You can see if you qualify as a small business using this website.
Q: Where do I get a business license?
Your state and local governments provide business licenses.
Q: What do I have to do to get a loan for my business?
In order to apply for a loan, you must provide projected financial statements and a cohesive, clear business plan which supplies the name of the firm, location, production facilities, legal structure and business goals. A clear description of your experience and management capabilities, as well as the expertise of other key personnel, will also be needed.
Q: I’m a small business owner, where can I go for help?
SBA's operates the toll-free "Answer Desk" at 1-800-8-ASK-SBA (1- 800-827-5722), to give callers direct referral to appropriate sources of information. You can also go directly to the Utah SBA office; 125 South State Street, Room 2231, Salt Lake City, UT 84138 or you can call them at (801) 524-3209. The Utah Procurement Technical Assistance Center can also provide you with information regarding federal and military contracting opportunities.
Q: Does the U.S. Small Business Administration (SBA) offer grants for small business startup?
SBA's grant programs generally support non-profit organizations, intermediary lending institutions, and state and local governments in an effort to enhance small business technical and financial assistance. However, SBA sponsors a variety of counseling, training and information services including the Service Corps of Retired Executives (SCORE), Business Information Centers (BICs), Small Business Development Centers (SBDCs) and Women's Business Centers (WBCs).