Singapore Business Financing
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When Investors Say No Maybe Your Bank Will Say Yes with a Little Help from the Government
By Howard I Schwartz
Small Business Administration (SBA) loans are provided to loan seekers under section 7(a) of the Small Business Act. This Act gives power to the Agency to sanction loans to American Small Businesses. Founded on July 30, 1953, the U.S. small Business Administration has provided loans, loan guarantees, contracts, counseling and other type of assistance to small businesses. Most American banks and non-banking lenders participate with SBA in 7(a) loan program.
SBA loans are provided to the borrowers against a guarantee for a percentage of loan amounts, if deemed necessary by the SBA loan providers. In case of default, the Agency is, in...
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