There is a government agency in the United States that seeks to support small upcoming enterprises. The name of the agency is Small Business Administration. What the agency does is that, it seeks to make the enterprises stronger by funding them through loan assistance. The mission of the agency is to facilitate economic recovery and maintain this strength.
This is done by overseeing the establishment of small businesses and ensuring that the enterprises have access to loans from lending institutions. It acts as a guarantor for these loans, especially for those people who may want these loans but have nothing to offer as security. In other cases, it goes ahead and gives the loans directly to enterprises affected by unfortunate circumstances like fire outbreak.
Furthermore, Small Business Administration assists small enterprises to manage their operations, gain technical experience as well as provide training to their staff or administrators. Other services include helping the enterprises get government procurement contracts. As per the statistics, the agency has actually helped over 18 million ventures soar high.
All the same, this success has not been easy to come by. The agency has been faced with many challenges every now and then, but thankfully, it has been able to overcome them. Just to site an example, the existence of the agency has been threatened before by the Republican House of Representatives, which planned to wipe out the program. The problem was further compounded by the Bush government which sought to frustrate its efforts by reducing its budgetary allocation monies. However, the agency has survived this far and is doing well.
