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In today’s troubled credit market, an entrepreneur looking for long-term success is going to need to know where to look for his or her start-up business financing needs. One of the best ways to go about this is through a branch of the federal Department of Commerce that has helped millions of entrepreneurs over the past five decades. It is called the Small Business Administration. Loan pay online, as well as a number of other features common to the modern credit market, are all available with incredible ease through the SBA.
The SBA was initially developed in 1953, in the beginning of the Eisenhower years. It was a package along with many other programs such as the federal highway act that enabled the American economy to grow and become the prosperous empire that it would be recognized as for the next half a century. The SBA grew, offering small loan programs to veterans, women, minorities and others for start-up businesses. The SBA has gone through a number of obstacles since its inception; there was an attempt to shut down the program entirely in 1996, through the Republican-controlled congress, but it was stopped and in the year 2000, the SBA went on to report record funds. Because the SBA is such a large backer of loans, there is very little doubt about Small Business Administration loan pay.
Online sources report that the SBA has received some substantial financial benefit in the recent years from the federal stimulus package in the amount of $20 million for capital and $20 million for maintenance. The SBA remains an excellent place to go to for new entrepreneurs looking to get off the ground and build credit.