Small Businesses Help All Businesses
You've heard that small businesses are the backbone of our national economy, and for good reason. According to the U.S. Small Business Administration, businesses with 500 employees or less make up 99.9% of all U.S. businesses, so yes, they're pretty important to our national economy.
But just because they're so prevalent doesn't mean success has come easily. The SBA was originally formed in 1953 as a federal agency designed to protect the interests of America's small businesses and entrepreneurs. At the time, small businesses were still reeling from the economic volatility created by The Great Depression more than two decades before.
Now, the SBA helps small businesses across the country secure capital by setting guidelines for loans and reducing lender risk. These SBA-backed loans make it easier for small businesses to get the funding they need for a wide variety of uses.
