SBA

If you’re starting a business from scratch, the Small Business Administration (SBA) is a great place to turn for financial assistance. Established in 1953, the SBA is an independent federal agency that provides four primary areas of assistance to American small businesses: advocacy, management, procurement, and financial assistance. While the SBA does not grant loans, the agency does guarantee them. The SBA's Prequalification Loan program is designed to assist low-income borrowers, disabled business owners, new and emerging businesses, veterans, exporters, rural, and specialized industries. As with many things in life, there is a small catch to qualifying for SBA assistance. To be eligible, you must apply and be turned down for a conventional loan by a commercial lender.