The United States Small Business Administration Has Been in the News Frequently

Daily Herald (Arlington Heights, IL), July 11, 2011 | Go to article overview

The United States Small Business Administration Has Been in the News Frequently


The United States Small Business Administration has been in the news frequently over the last several years. A shrinking economy and a tough lending environment have put the SBA on the lending radar. It is important to understand fact versus fiction with respect to the SBA. Knowing this can help a business owner when seeking financing.

It takes a long time

A common myth is that SBA loans take forever because they come from a branch of the government. This is simply not true. From start to finish, an SBA loan can take as little as thirty days. Some take longer as a result of information gathering, but generally when all the required information is at hand a borrower is looking at a thirty day turn around.

Paperwork a nightmare

It is understandable that one would think a program that involves the government would require an enormous amount of paperwork. Truth of the matter is that an SBA loan requires essentially the same information any commercial bank loan requires. In fact, by utilizing an SBA loan a borrower can benefit by having a "ready-to-go" package for the bank.

Lenders have no risk

There are two basic types of SBA loans: the SBA 7a loan and the SBA 504 loan. The 504 is most often used for real estate acquisitions, construction, renovation, equipment acquisition and refinance. The 504 offers up to 90 percent financing wherein a bank provides 50 percent, the SBA 40 percent, and the borrower contributes 10 percent. The 7a is mostly used for business acquisition, tenant improvements on leased property and working capital. …

The rest of this article is only available to active members of Questia

Already a member? Log in now.

Notes for this article

Add a new note
If you are trying to select text to create highlights or citations, remember that you must now click or tap on the first word, and then click or tap on the last word.
One moment ...
Default project is now your active project.
Project items

Items saved from this article

This article has been saved
Highlights (0)
Some of your highlights are legacy items.

Highlights saved before July 30, 2012 will not be displayed on their respective source pages.

You can easily re-create the highlights by opening the book page or article, selecting the text, and clicking “Highlight.”

Citations (0)
Some of your citations are legacy items.

Any citation created before July 30, 2012 will labeled as a “Cited page.” New citations will be saved as cited passages, pages or articles.

We also added the ability to view new citations from your projects or the book or article where you created them.

Notes (0)
Bookmarks (0)

You have no saved items from this article

Project items include:
  • Saved book/article
  • Highlights
  • Quotes/citations
  • Notes
  • Bookmarks
Notes
Cite this article

Cited article

Style
Citations are available only to our active members.
Buy instant access to cite pages or passages in MLA, APA and Chicago citation styles.

(Einhorn, 1992, p. 25)

(Einhorn 25)

1. Lois J. Einhorn, Abraham Lincoln, the Orator: Penetrating the Lincoln Legend (Westport, CT: Greenwood Press, 1992), 25, http://www.questia.com/read/27419298.

Cited article

The United States Small Business Administration Has Been in the News Frequently
Settings

Settings

Typeface
Text size Smaller Larger Reset View mode
Search within

Search within this article

Look up

Look up a word

  • Dictionary
  • Thesaurus
Please submit a word or phrase above.
Print this page

Print this page

Why can't I print more than one page at a time?

Help
Full screen

matching results for page

    Questia reader help

    How to highlight and cite specific passages

    1. Click or tap the first word you want to select.
    2. Click or tap the last word you want to select, and you’ll see everything in between get selected.
    3. You’ll then get a menu of options like creating a highlight or a citation from that passage of text.

    OK, got it!

    Cited passage

    Style
    Citations are available only to our active members.
    Buy instant access to cite pages or passages in MLA, APA and Chicago citation styles.

    "Portraying himself as an honest, ordinary person helped Lincoln identify with his audiences." (Einhorn, 1992, p. 25).

    "Portraying himself as an honest, ordinary person helped Lincoln identify with his audiences." (Einhorn 25)

    "Portraying himself as an honest, ordinary person helped Lincoln identify with his audiences."1

    1. Lois J. Einhorn, Abraham Lincoln, the Orator: Penetrating the Lincoln Legend (Westport, CT: Greenwood Press, 1992), 25, http://www.questia.com/read/27419298.

    Cited passage

    Thanks for trying Questia!

    Please continue trying out our research tools, but please note, full functionality is available only to our active members.

    Your work will be lost once you leave this Web page.

    Buy instant access to save your work.

    Already a member? Log in now.

    Author Advanced search

    Oops!

    An unknown error has occurred. Please click the button below to reload the page. If the problem persists, please try again in a little while.