As you begin the process of putting together your business plan and starting your practice, you may have thought about the services of the Small Business Administration (SBA). This independent federal government agency, formed in 1953, assists small businesses with startup and operations, and provides help with financing. Its mission: To “help Americans start, build, and grow businesses.” The SBA Web site can be a bit daunting, so here is an overview of the information you can find in each tab on the SBA home page (www.sba.gov). (Note that some of the links are to web sites external to the SBA.)

Before you start exploring the major tabs, check on the Most Requested Items link (bottom left) which answers to questions you probably have about the SBA and your ability to get a loan. (“How do I get a small business loan?” “What type of collateral do I need for a loan?” and many others).

The Small Business Planner tab is full of information. It includes sections on Planning, Starting, and Managing your business.

• The Planning section provides with writing a business plan, including sample business plans, an online business plan writing workshop, and an interactive business planner.
• The Finance Startup section includes help with estimating startup costs, breakeven analysis, and financing basics. Within this section you will also find information about your credit score and how banks use that score for lending determinations.
• The Loan and Funding information section discusses basic requirements for receiving SBA funding and specifics of the various types of SBA loans, as well as advice on preparing your loan requests.
• The Start your Business section includes links to information about selecting a name, location, and legal structure. If you have questions about whether to lease or buy equipment, you can check out the lease vs. buy web page and the link to the IRS guidelines for deductibility of certain types of leases.

The second SBA tab, for Services, contains more links to organizations and online courses to provide mentoring and training in starting and running your business.

• The Financial Assistance section lists the basic SBA loan types, including the popular 7(a) loan program.
• The Online Training section includes many free online courses and a calendar of training opportunities by state.
• The Counseling and Assistance section also links you to several organizations that can assist you. These links include listings of local chapters of:
• SCORE (Service Corps of Retired Executives) which can provide you with mentors and advisors
• SBDC’s (Small Business Development Centers), associated with local colleges and universities, so you can talk with business professors and others about your practice startup plans and your business plan.
• Women’s Business Centers in each state for specific counseling for women starting into business.
• If you are a minority, woman, or veteran, check out the Special Audiences section for information on programs for which you might be eligible.
• The Laws/Regulations section includes a link to Forms.gov, where you can search for any U.S. government form (including IRS, OSHA, and other agency forms).

When you have a few minutes, the Tools tab is well worth your time. Here are some links to visit:

• The Library and Resources section includes publications on small business topics and a great glossary of business terms. To get inspired, click on the “Success Stories” link.
• You can also find inspiration on the Audio/Visual link, where you can watch the “Delivering Success” series of video interviews, presented jointly by the SBA and the US Post Office. These videos alone are worth the trip to the SBA Web site!

The Local Resources tab gives you a fast way to find local offices of SBA, SCORE, SBDC, and Women’s Business Centers.

Back