Small Business Administration

Definition

A Federal agency which makes loans to small businesses. In most cases, the agency itself does not grant the loans, but rather guarantees the loans from other lenders. The majority of loans provided by the Small Business Agency are to allow the small business to take out loans with longer repayment periods, or with less strict requirements than traditional loans. Since the agency was created in 1953 as part of the Small Business Act, it has helped approximately 20 million businesses. Along with providing loans, the agency also engages in other activities, such as helping businesses affected by natural disasters, running a venture capital program, and educating businesses on various issues.

Use this term in a sentence

Featured Advertiser

Browse by Letter: # A B C D E F G H I J K L M N O P Q R S T U V W X Y Z
Small Business Investment Company SBIC