The SBA is a U.S. government agency that is designed to bolster and promote the economy by assisting the country’s small businesses. 

Established in 1953, the SBA’s largest function is to counsel individuals who want to start and grow their own businesses. It provides a series of tools on its website to assist new and existing small business owners. The agency is headed by an administrator confirmed by the Senate. 

The Small Business Administration offers educational information assisting small businesses to develop and grow, with tools for businesses that can be accessed on its website:

• Access to Capital: The agency offers a variety of financial resources for small businesses including microlending, or small loans that are issued to those who wouldn’t otherwise qualify for financing. Loans are issued by partner banks, credit unions, and other financial institutions.

• Entrepreneurial Development: This is driven by counseling services and low-cost training provided by the SBA. This is available to both new and existing business owners in more than 1,800 locations across the United States. There’s also a mentor program that connects new business owners with retired and/or existing entrepreneurs.

• Contracting: The SBA reserves 23% in government contracting dollars for small businesses with the help of other federal departments and agencies. The agency guarantees 5% of these contracting dollars for women and another 3% for business owners who are disabled and veterans.

• Advocacy: The agency acts as an advocate by reviewing legislation and protecting the interests of small business owners across the country. The agency also advocates are presents business owners at the state and federal government levels.