Glossary Of Small Business Terms part 36

evaluated. Negotiations may be conducted with offers. Award is based on a combination of lowest price and technical merit.

RFQ Request for Quotation A request for market information by the government, used for planning purposes.

SBA Small Business Administration An independent agency of the federal government and not to be confused with Small Business Association or variations thereof. The U.S.

Small Business Administration (SBA) was created by Congress in 1953 to help America's entrepreneurs form successful small enterprises. Today, SBA's program offices in every state offer financing, training and advocacy for small firms. These programs are delivered by SBA offices in every state, the District of Columbia, the Virgin Islands and Puerto Rico. In addition, the SBA works with thousands of lending, educational and training institutions nationwide.

SBA EXPORT EXPRESS SBA Export Express combines the SBA’s small business lending assistance with its technical assistance programs to help small businesses that have traditionally had difficulty in obtaining adequate export financing. The pilot program is available throughout the country and is expected to run through September 30, 2005

SBA LOAN The SBA enables its lending partners to provide financing to small businesses when funding is otherwise unavailable on reasonable terms by guaranteeing major portions of loans made to small businesses.

SBA LOWDOC SBA LowDoc streamlines the making of small business loans. The maximum loan-$150,000. Calls for a response from the SBA within 36 hours of receiving a complete application. Guaranty percent follows 7(a) policy.

SBAExpress The SBAExpress Makes it easier and faster for lenders to provide small business loans of $150,000 or less; allows lenders to use their own forms and processes to approve loans guaranteed by the U.S. Small Business Administration; provides a rapid response from the SBA within 36 hours of receiving your complete application; lets lenders take advantage of electronic loan processing; and helps lenders provide smaller revolving loans.

SBDC Small Business Development Centers See Small Business Development Center.

SBIC Small Business Investment Company Licensed by the Small Business Administration, SBICs are privately owned and managed investment firms. They are participants in a vital partnership between government and the private sector economy. With their own capital and with funds borrowed at favorable rates through the Federal Government, SBICs provide venture capital to small independent businesses, both new

Glossary Of SmallBusiness Terms part 37

DYNAMAX BUSINESS CREDIT