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One of the best things you can get for your small start up business is government small business loan grants. Government loans have an excellent reputation among start up entrepreneurs, and for good reason; they are time-tested, reliable, stable, and don’t require large profits in order to operate. They also offer a wealth of opportunities for women, minorities, veterans, the diabled, green businesses, and a number of other groups that are greatly benefited by government lending organizations.
The SBA started in 1953 under the Eisenhower administration as part of a way to provide business opportunities to returning WWII veterans that were interested in getting government small business loan grants to they could afford their own piece of the American dream. The SBA has since expanded its provisions to accommodate a number of other groups, and was strongly influenced by the civil rights act.
Problems arose for the SBA in the 1990’s under the the Republican-heavy congress, who wanted to remove it on the grounds that it was infringing on competition from private lenders. The program was brought to near bankrupcy in 2004, and government small business loan grants looked like they were in grave danger.
However, things started looking up for the SBA and the borrowers that it supports in 2008, when the TARP bill money helped replenish some of the moneys that were lost by the problems the SBA faced in the mortgage crisis. But thanks to $20 million, the infrastructure of the SBA has been fixed and another $20 million has been instrumental to replenishing the reserves of the Microloans program.
The SBA remains alive and well, still providing many Americans with excellent borrowing opportunities that cannot be found anywhere else.
