SBA Mission Who We Are SBA Small Business Administration Independent agency of the Federal Gov t established in 1953 SBA helps make the American dream of business ownership a reality. Mission We empower entrepreneurs and small business owners with the resources and support they need to start and grow their businesses. 2
SBA Mission What We Do SBA s Core Service Areas: o Counseling o Capital o Contracting o Exporting SBA Helps Businesses: 1. Start 2. Grow 3. Expand 4. Recover 3
Have you noticed SBA s New Rebrand.Refresh Say Good-bye to the Old Say Hello to our NEW Look.
SBA Overview The U.S. Small Business Administration makes the American dream of business ownership a reality. 5
The Right Tools at the Right Time CAPITAL Start or expand your business with SBA-guaranteed loans Use Lender Match to find lenders and capital CONTRACTING Provide goods & services to the government Register as a government contractor for opportunities EXPORTING Export goods to increase your profits & expand your markets Start with SBA s Office of International Trade 6
CAPITAL Uses & Requirements
CAPITAL: USES Get $500 to $5.5 million to fund your business. Working Capital: Seasonal financing, export loans, revolving credit & refinanced business debt. Fixed Assets: Furniture, real estate, machinery, equipment, construction & remodeling 8
CAPITAL: REQUIREMENTS The SBA works with lenders to provide loans to small businesses. We do not lend directly to small business owners. Be a for-profit business: The business is officially registered & operates legally. Do business in the U.S.: The business is physically located & operates in the U.S. or its territories. 9
CAPITAL: REQUIREMENTS The lender will provide you with a full list of eligibility requirements for your loan. Have invested equity: The business owner has invested their own time or money into the business. Exhaust financing options: The business cannot get funds from any other financial lender. 10
CONTRACTIN G Certifications & Registration
CONTRACTING: CERTIFICATIONS The federal government tries to award a significant percentage of government contracting dollars to small businesses, including those in the following programs: 8(a) Business Development: Owned by socially & economically disadvantages people or entities. HUBZone Program: In historically underutilized business zone, w/ 35 percent of employees living in a HUBZone. 12
CONTRACTING: CERTIFICATIONS The federal government tries to award a significant percentage of government contracting dollars to small businesses, including those in the following programs: Women-Owned Small Business Program: Be 51% owned & controlled by women who are U.S. citizens; women manage day-to-day operations. Service-Disabled Veteran- Owned Small Business Program: Be 51% owned & controlled by service-disabled veteran; must have serviceconnected disability. 13
CONTRACTING: REGISTRATION Your small business must meet some basic requirements before you can compete for government contracts 1. DUNS number & NAICS code 2. Meet size standards 3. Register in the System for Award Management (SAM) database 14
EXPORTING Resources & Financing
EXPORTING: BENEFITS Increase your profits, reduce market dependence and stabilize seasonal sales. 16
EXPORTING: COUNSELING & TRAINING There are a lot of great resources to help you get into exporting. U.S. Export Assistance Centers Small Business Development Centers SBA s Office of International Trade State Trade Expansion Program (STEP) 17
EXPORTING: FINANCE OPTIONS The SBA will provide lenders with up to a 90 percent guaranty on export loans. Export Express Loan: Typically approved within 36 hours & can be up to $500,000. Export Working Capital Loan: Can apply in advance of finalizing export sale/contract. Approved within 5-10 days & can be up to $5 million. International Trade Loan: Combination of fixed asset, working capital financing & debt refinancing. SBA s maximum guaranty of 90%. Up to $5 million. 18
Build Your Business Smarts MENTORS, COUNSELORS & ADVISORS Get free business advice from our partners Learn how to write a business plan, hire employees, pay taxes & more CLASSES SBA s online Learning Center provides courses on a number of topics The Columbus District Office & local partners host in-person and webinar trainings 19
COUNSELIN G Mentors & Advisors
COUNSELING: RESOURCES The SBA has a number of resource partners to help you achieve success. 21
COUNSELING: RESOURCES The SBA has a number of resource partners to help you achieve success. 22
COUNSELING: RESOURCES The SBA has a number of resource partners to help you achieve success. 23
COUNSELING: RESOURCES The SBA has a number of resource partners to help you achieve success. 24
CLASSES Online & In-Person
COUNSELING: RESOURCES The SBA offers a variety of online courses to help you start & run your business. You can also sign up for inperson classes through the district office or resource partners. SBA Online Learning Center District & Resource Partner Training 26
Gain Confidence to Move Forward BUILD YOUR BUSINESS Step-by-step instructions in hiring & managing employees Learn about paying taxes and staying legally compliant DISASTER RECOVERY Find out who can use an SBA disaster loan Learn if you qualify and how to get disaster assistance 27
BUILDING Taxes, Employees & More
BUILDING: TAXES Meet federal, state and local tax obligations to stay in good legal standing. Your business structure & location influences which taxes your business has to pay. Get help from SBA s partners when you need to prepare your business taxes. 29
BUILDING: EMPLOYEES Establish a basic payroll structure to help you hire employees. Ensure your business practices adhere to labor laws. SBA s website will help walk you through the step-by-step process in setting up a payroll. Consult the Department of Labor s federal & state law resources. 30
BUILDING: NEW LOCATIONS Prepare for a new market financially and legally. 31
RECOVERY Qualifying & Applying
RECOVERY: QUALIFYING The SBA provides low-interest disaster loans to help small businesses & homeowners recover from declared disasters for a number of purposes:. Real Estate Personal Property Economic Injury Machinery & Equipment Inventory Active Military Duty 33
RECOVERY: APPLYING To qualify, your business or home must be in an affected area as stated by a disaster declaration. Check disaster declarations: See if the SBA has issued a disaster declaration in your area. Apply for a disaster loan: Loans are available for businesses & homes affected by disaster. Check your status: Log into your account & check your email for updates. 34
Contact Us! Columbus District Office: 401 N. Front St., Suite 200, Columbus, OH 43215 Phone: 614.469.6860 Shanda Harris, 8(a) Business Opportunity Specialist Phone: 614.469.6860 ext. 236 E-mail: shanda.harris@sba.gov Cincinnati Branch Office: 525 Vine St., Suite 1030, Cincinnati, OH 45202 Phone: 513.684.28140 Dayton Area Office Phone: 614.633.6372 35