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SBA Loan Programs

Small Business Administration (SBA) is an independent agency of the U. S. Government. With a portfolio of business loans, loan guarantees, venture capital instruments worth of $45 billion, SBA is the nation’s largest single financial backer of small business, which is defined as a business having fewer than 500 employees.

According to the U.S. Bureau of Statistics, there were almost 14 millions of Asian Americans and Pacific Islanders in the United States in 2003. This ethnic group represents the second fastest growing population in our nation. As compared to other ethnic groups, Asian Americans have a higher percentage of population engaging in business with strong spirit of entrepreneurship. Unfortunately, due to the language barrier and lack of financing knowledge, professional skill in documentations as well as financial assets for loan collateral, some Asian American business owners have difficulty in qualifying the conventional business loans (such as revolving line of bank credit, account receivable financing and terms loan, etc.) from commercial banks or other financial institutions. In fact, the SBA loan is a very good financing tool for minority business owners to expand their business. Under different SBA loan programs, business owners can finance working capital, the purchase of inventories and machinery, and acquisition of warehouse.

MBA has formed a strong alliance with the regional SBA office, the Minority Business Development Agency (MBDA) under the U. S. Department of Commerce, and Wells Fargo Bank to promote the SBA loan programs to the minority business owners in the Bay Area.

To promote the SBA loan program, MBA plans to provide the following services to the minority business owners.
Conduct business seminars on SBA loan programs at least every two months in the joint efforts with the regional SBA loan office, MBDA and Wells Fargo. The Business Seminars will be conducted in the local community centers, adult schools, or at a public location that is convenience to the minority business owners. MBA will invite keynote speakers from commercial banks, regional SBA loan office and MBDA to conduct the business seminars.
Give out bilingual information on SBA loan programs such as:
 Procedures for processing an SBA loan.
 SBA loan eligibility
 Instructions on how to complete SBA loan applications and related documentations
 Instructions on how to write a professional business plan and develop financial projections such as annual budget, cash flow analysis 
and projected income statement
Refer minority business owners to the commercial banks or financial institutions that offer SBA loan programs.