SBA analyzing means of streamlining programs

8/25/2011

A major goal of the U.S. Small Business Administration's operations is to help entrepreneurs and business owners succeed, and new steps laid out to make applications and contracts easier and more available are being planned.

In its Final Plan for Retrospective Analysis of Existing Rules, released last Friday, the organization outlined ways of streamlining the paperwork involved in applying for SBA lending, assistance programs and contracts.

One of the possible means of improving the process for business owners is creating a website for the agency's government contracting program, where users would be able to quickly and easily determine their eligibility to apply for one of the specialized plans. A uniform certification process would also help businesses navigate the program.

Those interested in special purpose 7(a) loans could also benefit from a proposed electronic application, which would combine the existing system into a single online submission process. The 7(a) program is designed for businesses dealing with the effects of the North American Free Trade Agreement, companies working in certain environmental industries, veterans and servicemembers and those doing business in underserved communities.

If the reforms are successful, businesses may be more likely to take advantage of SBA programs and realize the startup and expansion benefits the organization offers.