Your #smallbiz Twitter Town Hall Questions Part 3: Streamlined SBA Loans and Smallbiz Exporting

Earlier this month, we launched Your #smallbiz Twitter Town Hall Questions blog series (Part One and Part Two) to answer your small business questions submitted during President Barack Obama’s Twitter Town Hall.  We are wrapping up this blog series by answering your questions about streamlined SBA loans and small business exporting. 

@Heart_of_Design- #AskObamaDear President Obama, a streamlined SBA application would help small business create jobs. How is your admin. helping small biz?

It’s important to us to make sure we provide loan programs that are streamlined and allow entrepreneurs to receive timely responses regarding their loan application.  Streamlined programs like our SBA Express Program help us get capital into the hands of small business owners who create jobs. SBAExpress gives small business borrowers an accelerated turnaround time for SBA's review. You will receive a response to your application within 36 hours. In addition, lower interest rates are often available to you when you apply through an Express program.  Loans under the SBAExpress program are available up to $350,000. 

As a borrower, you can speed up the application process by being prepared and SBA can help you.  Check out our SBA Loan Application Checklist to ensure you have everything the lender will ask for in order to complete your application. It’s important to know that SBA does not provide direct loans. The process starts with your local lender, working within SBA guidelines.  Once your loan package is complete, your lender will submit it to the SBA. Contact your local SBA office by entering your zip code for a list of SBAExpress lenders in your area.

@RealEstateSally- #AskObama: Mr. President, I would like to go into the Exporting business.SBA.gov and AES.gov are helpful sites. Any College courses on this?

SBA provides many online resources to help small businesses export and create American jobs. We recently launched the Export Business Planner which is a free, customizable tool for small business owners who are exploring exporting. Using the planner, you can work through the critical processes of export readiness and planning via a ready-made, easily accessible document that can be updated and referenced time and again as your export business grows.

Another helpful resource is Export.gov which brings together resources from across the U.S. Government to assist businesses in planning their international sales strategies. Export.gov provides a variety of training options as well as information on trade events, free trade agreements and licenses and regulations just to name a few.  Finally, Export.gov connects you with government exporting officials in your area by simply entering your zip code.