The Small Business Administration, also referred to as SBA, is the United States government's foremost agency that is in charge of presenting and providing support to the nation's entrepreneurs and small businesses.
The Small Business Admianistration is constantly functioning towards enabling the growth and improvement of small businesses as specified within their mission statement, which is "to maintain and strengthen the nation's economy by enabling the establishment and viability of small businesses and by assisting in the economic recovery of communities after disasters."
In keeping with the agency's mission, SBA has recently created the Recovery Capital Loans Program which provides financial assistance to small businesses with less than 500 employees to acquire a deferred payment loan from the agency, in order to meet existing debt payments, thereby giving the business the opportunity to refocus their business strategy.
The Recovery Capital Loans Program provides deferred payment loans with the ceiling amount of $35,000, and could be payable for approximately 5 years, and will not begin until 12 months following the final disbursements of funds.
The program is principally made to aid small businesses in paying for existing, qualifying small business loan for an period of time that will not go beyond six months.
The Small Business Administration will also accept any sort of available collateral in order to secure loans which are made under the Recovery Capital Loans Program.
Small Business establishments with less than 500 employees will likely be eligible to take part in the Recovery Capital Loans Program.
The Small Business Administration, the principal agency funding this program, is primarily responsible for the constant maintenance and strengthening of the nation's economy and they look to accomplish this by aiding, counseling, assisting and protecting the interests of small business establishments.
In the year 2009, the Small Business Administration has administered around $255,000,000 for the Recovery Capital Loans Program.
The Small Business Admianistration is constantly functioning towards enabling the growth and improvement of small businesses as specified within their mission statement, which is "to maintain and strengthen the nation's economy by enabling the establishment and viability of small businesses and by assisting in the economic recovery of communities after disasters."
In keeping with the agency's mission, SBA has recently created the Recovery Capital Loans Program which provides financial assistance to small businesses with less than 500 employees to acquire a deferred payment loan from the agency, in order to meet existing debt payments, thereby giving the business the opportunity to refocus their business strategy.
The Recovery Capital Loans Program provides deferred payment loans with the ceiling amount of $35,000, and could be payable for approximately 5 years, and will not begin until 12 months following the final disbursements of funds.
The program is principally made to aid small businesses in paying for existing, qualifying small business loan for an period of time that will not go beyond six months.
The Small Business Administration will also accept any sort of available collateral in order to secure loans which are made under the Recovery Capital Loans Program.
Small Business establishments with less than 500 employees will likely be eligible to take part in the Recovery Capital Loans Program.
The Small Business Administration, the principal agency funding this program, is primarily responsible for the constant maintenance and strengthening of the nation's economy and they look to accomplish this by aiding, counseling, assisting and protecting the interests of small business establishments.
In the year 2009, the Small Business Administration has administered around $255,000,000 for the Recovery Capital Loans Program.
About the Author:
Michael Saunders is an editor of TopGovernmentGrants.com. He maintains Websites providing resources on grants for small business and philanthropy giving.
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