U.S. Small Business Administration
MISSION STATEMENT: The SBA helps Americans start, build and grow businesses.
SBA s Three C s Counseling Contracting Capital
Counseling Free business counseling, advice and information on starting, improving or expanding your small business is available through SBA s Resource Partners.
sba REsource partners Small Business & Technology Development Centers Women s Business Centers SCORE North Carolina Military Business Center Veteran Business Outreach Center
Counseling Counseling * Free one-on-one counseling * Business planning advice * Management & technical assistance Workshops typically free * Start-up seminars * Marketing, Seminars/Conference * Fee based * Government contracting, exporting, technology
Counseling Elizabeth City Asheville Boone Winston- Salem Hickory Chapel Hill Greensboro Durham Raleigh Fayetteville Greenville Cullowhee Charlotte Locations of Small Business &Technical Development Centers www.sbtdc.org Pembroke Wilmington Nags Head
Counseling Kill Devil Hills Asheville Greensboro Chapel Hill Raleigh Hendersonville Charlotte Southern Pines Locations of SCORE Chapters www.score.org Wilmington Morehead City
Counseling Raleigh Fayetteville Veterans Business Outreach Center: www.fsuvboc.com Women s Business Center of Fayetteville: www.ncceed.org NCIMED Women s Business Center: www.theinstitutenc.org
SBA s Three C s Counseling Contracting Capital
Capital: SBA Loan Programs 7(a) / PLP SBAExpress CAPLines Microloans Intermediary Lending Pilot Program Patriot Express Community Advantage Export Financing 504 Loan Disaster Assistance SBIC Surety Bonds
SBA Loan Basics SBA guarantees loan Reduces lender s risk Loans up to $ 150,000 up to 85% Loans over $ 150,000 up to 75% SBAExpress 50% 7(a) Loans up to $5,000,000 Must be small, for-profit, US Citizen or Resident Most any business purpose
How Do SBA Loans Help? Bank loan guaranteed by SBA Loans for start-ups Collateral shortfalls Longer terms (up to): * Working capital - 10 years * Machinery & equipment -10 years * Real estate - 25 years No balloon payments Interest Rates vary by loan program * Prime + 1% up to prime + 6 ½%
What s Required? Good character & credit Repayment ability Borrower investment /equity Experience Collateral
504 Loans The 504 Loan Program provides long-term, fixed-rate, subordinate mortgage financing for acquisition and/or renovation of capital assets including land, buildings and equipment. Provided through Certified Development Companies 10 or 20 year fixed rate on SBA portion 6 CDCs located throughout NC
Certified Development Companies Avista Business Dev. Corp. Asheville, 828-645-0439 BEFCOR, Charlotte & Raleigh www.befcor.com Carolina Business Capital Charlotte, www.cbc504.com Neuse River Dev. Authority New Bern, www.nrda.org Piedmont Triad Reg. Dev. Corp. Kernersville, www.ptrc.org Self-Help Ventures Fund Durham, Greensboro, Charlotte, Wilmington www.self-help.org/504loans
SBA s Three C s Counseling Contracting Capital
Why Sell to Uncle Sam? The federal government spends more than $500 billion a year in contracts, making it the largest purchaser of goods and services in the world. Small businesses throughout the country can and should take advantage of contracting opportunities, which can be a crucial source of revenue to help them grow, innovate and create jobs.
FEDERAL certifications Certification SBA Certified Self-Certified Small Business x Veteran/ SDV 1 x 8(a) x SDB x HubZONE x WOSB/EDWOSB x 1 Must certify with VetBiz for VA procurements
WWW.SAM.GOV To Conduct Business with the Government: MUST register in https://www.sam.gov database Obtain a DUNS Number at website (FREE) to identify your business to the federal government After completing SAM (System for Award Management), UPDATE the SBA Profile Link in Dynamic Small Business Search (DSBS)
FedBizOpps.gov FedBizOpps.gov (or FBO.gov) lists on average over 25,000 active federal opportunities at any one time. FBO.gov allows you to search for opportunities without a username and password. Advanced functions such as search agents, watch lists, and interested vendor lists for solicitations require a username and password.
Helpful Contracting Websites www.sba.gov www.sba.gov/gcclassroom www.sba.gov/8a www.sba.gov/sizeup www.sba.gov/vets www.sba.gov/sba-learning-center www.sbtdc.org/ptac www.ncmbc.us
SBA s Three C s Counseling Contracting Capital
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