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Small Business Think Tank
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SBA and the Stimulus PackageViews: 518
Feb 23, 2009 8:34 pmSBA and the Stimulus Package#

Kurt Schweitzer
I just received this link from the local office of the Small Business Administration:

http://www.sba.gov/idc/groups/public/documents/region2/r2_newsletter.pdf

Look in particular at the third page, where they list the funds for small businesses available from the SBA.

Now keep in mind that this is an agency that regards a business with up to 500 employees as a "small business", which might explain why they consider loans of less than $35,000 as "microloans".

Do you think this will help stimulate YOUR small business?

Kurt Schweitzer
Urban Village Scooters

Private Reply to Kurt Schweitzer

Feb 24, 2009 2:21 pmre: SBA and the Stimulus Package#

Eileen Brown
This has been an issue for a long time. 500 employees is
not "small business" to any of us. What most of us do is
considered "micro business" and the SBA does not consider
"micro" business viable in most cases.

Their definition is wrong.

EB :D

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Private Reply to Eileen Brown

Feb 24, 2009 9:53 pmre: re: SBA and the Stimulus Package#

Kurt Schweitzer
Ignoring whether or not their definition of "small business" is correct, does this portion of the stimulus look like it will help stimulate YOUR business?

The Small Business Administration appears to me to have two functions: loan guarantees, and consulting services.

The consulting services function is mostly delivered through the Service Core of Retired Executives (SCORE). I don't know if you've ever contacted SCORE, but they provide free consultations for many business functions. I've used them in the past to review my business plans, but I understand they have more services available than just that.

I've also attended several of their seminars and day-long workshops over the years.

The stimulus package seems to focus primarily on the SBA's loan guarantee function. I have applied for an SBA guaranteed loan in the past, which I wound up not accepting because the dollar amount was smaller than I required. The lending organization (the bank) actually lends the money - all the SBA does is guarantee that it will be repaid.

I expect to be contacting the SBA in the near future just to see if there are any services that they offer which are appropriate to my 2 year old business. My issues are different from what they were when I was creating my business; I hope their services are a better fit.

So, does YOUR business have a need for money? How much will the SBA's portion of the stimulus package help you?

Kurt Schweitzer
Urban Village Scooters

Private Reply to Kurt Schweitzer

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