One of the most frustrating aspects
of running a small business is the
difficulty in getting capital to meet
day-to-day working expenses. This is
especially true as companies struggle
to rebound from the recession that
ushered in the '90s.
But help may be in sight. In
recent years, the Small Business
Administration's (SBA) guaranteed
loan program has become an attractive
solution to business owners facing
a capital crunch. Since its inception
in 1953, the SBA has guaranteed
more than 480,000 loans totaling over
$60 billion. In fiscal 1993 alone, the
SBA guaranteed over 25,000 small
business loans worth nearly $5.2 billion,
including over $25 million to
firms involved in construction.
Many small business owners, however,
have little knowledge of the program's
advantages;