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Your questions and comments are important to us! The Answer
Desk is the only national toll-free telephone service providing information
to the public on small business problems and concerns; moreover, this service
provides general information about SBA programs and other programs available
to assist the small business community. Because of the volume of comments
and questions we receive each day, we may be unable to immediately respond
to all of your calls or messages. A reply to your email message (answerdesk@sba.gov)
may take up to five working days (typically Mon - Fri except holidays). Business
Information Assistants are available to speak directly with you between the
hours of 9:00 AM and 5:00 PM (East Coast Time) by calling the Answer
Desk at 1-800-U-ASK-SBA (1-800-827-5722). Outside of these hours, you
may hear a recording of the information 24 hours, seven days a week.
In most cases, your calls and emails will go to one of our many Business
Information Assistants who are educated in all aspects of SBA's Programs and
Services and you should receive a rapid response. See our privacy
statement regarding emails. In cases where questions are of a technical
nature regarding the operation of the web site, questions of this nature will
be forwarded directly to the webmaster by us. If you are requesting a link
or wanting to link to our site, see our "Linking
Criteria" prior to making your request.
Whether you are starting a business or operating an established business,
the US Small Business Administration has a variety of programs to assist you.
Free one-on-one counseling is also available locally to help entrepreneurs
and potential entrepreneurs in the areas of financing, management technology,
government procurement, and other business related areas.
#1 - How do I get a small business loan? To be eligible, a business must be operated for profit and not exceed SBA's
size standards (please go to http://www.sba.gov/size
for more information). For further information and eligibility requirements,
please go to www.sba.gov and click on "financing."
#2 - How do I get a small business grant? The U.S. Small Business Administration does not offer grants to start or
expand small businesses, although it does offer a wide variety of loan programs.
(See http://www.sba.gov/financing
for more information) While SBA does offer some grant programs, these are
generally designed to expand and enhance organizations that provide small
business management, technical, or financial assistance. These grants generally
support non-profit organizations, intermediary lending institutions, and state
and local governments. (See Federal
and State Technology Partnership Program and visit New
Markets Venture Capital Program.)
Business Information Centers (BICs), supported by local SBA District Offices, can assist you by providing access to state-of-the-art computer hardware and software, and through counseling by Service Corps of Retired Executives (SCORE) volunteers. BICs have resources for addressing a broad variety of business start-up and development issues. You can receive help with writing a comprehensive business plan, evaluating and improving your marketing and sales techniques, diversifying into a new product/and or service areas, pricing your products, or exploring exporting opportunities. The BIC web site is http://www.sba.gov/bi/bics
#4 – How do I get a business license? Licensing is generally handled through your state or local government. You
will need to consult your local telephone directory in the "Government" section
for an office that will assist you with a license or permit. See http://www.sba.gov/hotlist/license.html For FREE one-on-one counseling, please go to SBA's home page (www.sba.gov)
and select "Local SBA Resources" for an area local contact nearest you. The
Service Corps of Retired Executives and the Small Business Development Center
can assist you with your business venture.
#5 – How do I get a tax identification number? You may call the IRS at 1-800-829-1040 and ask for the Small Business Tax
Kit #454. Tax information for starting a business can be found by going to
http://www.irs.gov/bus_info/emp_tax/index.html.
You will need to contact the Department of Revenue for state taxes (if any).
Please consult your local telephone directory in the "State Government" section
for the office in your state.
#6 – How do I write a business plan? If you go to SBA's home page (http://www.sba.gov) and select "Starting,"
you will find information on starting a business and writing a business plan
- see http://www.sba.gov/starting. Under "SBA local resources" you can find
local contacts such as the Service Corps of Retired Executives and the Small
Business Development Center, that provide FREE one-on-one counseling in the
area of starting and expanding a small business. They can assist you by critiquing
your business plan and your business ideas. Also, SBA has Business Information
Centers (BICs) nationwide that are similar to a business library. There you
will find reference materials on starting and expanding a business, including
information on how to write a strong business plan. Some of the Centers have
actual samples of business plans that have been written. You can locate
a center by selecting "Local SBA Resources" under http://www.sba.gov,
as well.
#7 – What type of collateral do I need for a loan? Repayment ability from the cash flow of the business is a primary consideration
in the SBA loan decision process but good character, management capability,
collateral, and owner's equity contribution are also important considerations.
All owners of twenty percent (20%) or more of the business are required to
personally guarantee SBA loans. The SBA does not deny approval for a SBA Guaranty Loan solely due to lack
of collateral; however, it can be used as a reason, in addition to, other
credit factors. For more information on requirements on a SBA Guaranty Loan, as well as,
our guaranty loan programs available, please visit us at http://www.sba.gov/financing/indexloans.html
#8 – Is there any business assistance available in my area? Yes. There are 12,400 Service Corps of Retired Executives (SCORE) chapters
and approximately 1,000 Small Business Development Centers (SBDC) nationwide.
SCORE provides free, expert advice based on many years of firsthand experience
and shared knowledge, on virtually every aspect of business. The SBDC provides
a variety of management and technical assistance services to small businesses
and potential entrepreneurs. To locate the nearest SCORE or SBDC in your area,
please visit us at http://www.sba.gov/regions/states.html
and click on your state. You may also want to visit one of our Business Information
Centers (BICs) that have various books, videotapes, and training workshops
on starting and expanding your business. This includes marketing, business
planning, legal requirements, bookkeeping, etc. To locate the nearest BIC,
please visit us at the aforementioned web site address and click on your state.
#9 – What classifies a business as "small"?
#10 – How can I get my business certified as a woman or minority
owned? However, your state and local government may have different rules and regulations
regarding their contracts and what their definitions are. Consult your state
and local government for rules and requirements.
The U.S. Small Business Administration (SBA) has a certification process
for the 8(a) Business Development Program. This program assists in the development
of small companies owned and operated by individuals who are socially and
economically disadvantaged. Businesses eligible for this program may receive
federal contracting set-asides and other business-development support to help
the company gain access to the economic mainstream. To learn more about this
program, please go to http://www.sba.gov/MED/.
There is a certification process to be considered a Small Disadvantaged
Business (SDB). The SDB certification ensures that small businesses are owned
and controlled by socially and economically disadvantaged individuals meeting
SDB eligibility criteria. If you are considered a SDB, you may receive a price
evaluation credit of up to 10% when you bid on a federal contract. For more
information on this program, please go to: http://www.sba.gov/sdb
Also, the HUBZone Empowerment Contracting Program encourages economic development
in historically underutilized business zones, through the establishment of
federal contract award preferences for small businesses located in such areas.
To learn more about this program, please go to /hubzone/.
Also see http://www.sba.gov/certifications/.
#11 What type of interest rate, terms and fees does the
SBA require on its Guaranty Loan Program?
#12 How do I find an investor for my business? The Small Business Investment Company Program (SBIC) fills the gap between
the availability of venture capital and the needs of small start-up or growing
business. Licensed and regulated by the SBA, SBICs are privately owned and
managed investment companies that make capital available to small businesses
through investments or loans. They use their own funds plus funds obtained
at favorable rates with SBA guaranties. SBICs are for-profit companies whose
incentive is to share in the success of small businesses. In addition to equity
capital and long-term loans, SBICs provide debt-equity investments and management
assistance. To learn more about this program, please go to http://www.sba.gov/INV.
#13 What is PRO-Net and SUB-Net? SUB-Net, an extension of PRO-Net, is primarily for prime contractors to
post subcontracting opportunities. These opportunities may or may not be reserved
for small businesses. They may include solicitations or other notices, such
as a search for "teaming" partners and/or subcontractors for future contracts.
The SUB-Net site enables small businesses to use their limited resources to
identify and bid on concrete, tangible opportunities. While the web site is
designed primarily as a place for large businesses to post solicitations and
notices, federal agencies, state and local governments, nonprofit organizations,
colleges and universities, and small businesses can also use it for the same
purpose. You can access SUB-Net through the PRO-Net home page by choosing
the "Subcontracting Opportunities" button. Or, you can go directly to SUB-Net
at http://web.sba.gov/subnet/
#14 I’m interested in exporting. What do I do ?? The U.S. Small Business Administration provides export information and development
assistance to help small businesses take advantage of export markets, including
trade counseling, training, legal assistance and publications. You can visit
our web site at http://www.sba.gov/oit/ Receive personalized assistance by professionals from the U.S. Small Business
Administration, the U.S. Department of Commerce, the U.S. Export-Import Bank
and other public and private organizations. To locate your nearest USEAC,
please go to http://www.sba.gov/oit/export/useac.html/
# 15 - I’m in the National Guard and was called up for active
duty. Can you help me? Small Businesses that are owned by military reservists (National Guard and
Reserve Members) and/or small businesses that employ military reservists called
to active duty may qualify for Military Reservist Economic Injury Disaster
Loans (MREIDL). Filing Period for small businesses to apply for economic injury
loan assistance begins on the date the essential employee is ordered to active
duty and ends on the date 90 days after the essential employee is discharged
or released from active duty. (NOTE: This program applies to military conflicts
occurring or ending on or after March 24, 1999) The purpose of the Military
Reservist Economic Injury Disaster Loan program (MREIDL) is to provide funds
to eligible small businesses to meet its ordinary and necessary operating
expenses that it could have met, but is unable to meet, because an essential
employee was "called-up" to active duty in their role as a military reservist.
These loans are intended only to provide the amount of working capital needed
by a small business to pay its necessary obligations as they mature until
operations return to normal after the essential employee is released from
active military duty. The purpose of these loans is not to cover lost income
or lost profits. MREIDL funds cannot be used to take the place of regular
commercial debt, to refinance long-term debt or to expand the business.
U.S. Export Assistance Centers located in major metropolitan areas throughout
the United States, are one-stop shops ready to provide your small- or medium-sized
business with local export assistance.