WHAT IS THE SBA & THE 7(a) LOAN PROGRAM?
The U.S. Small Business Administration (SBA) was established in 1953 to help Americans start, build, and grow businesses. It is an independent agency of the federal government whose mission is to aid, counsel, and protect the interests of small businesses. Small business is the backbone of the U.S. economy providing the lions share of new jobs, half the gross domestic product and many new technologies SBA is commissioned to assist in maintaining the economic strength and importance of this sector of our economy. SBA does not make loans itself, but guarantees 75-85% of a loan made by a Bank, Credit Union or Small Business Lending Company (SBLC) through its flagship loan program, called 7(a) program (from the section of the Small Business Act). SBA issued 12 SBLC licenses and PMCs subsidiary, First Western SBLC, Inc.,owns one. First Western is a nationwide Preferred Lender through the SBA which means our years of experience and understanding of the program allows the process to go more q
