If you would like to take advantage of some of the great small business loans being offered this year by the SBA, you must make sure your business is properly registered with that agency. Once you register, the SBA uses the information to determine if you are qualified to receive a variety of types of assistance and contracts. The SBA can provide:

• Small Business Loans
• Government contracts
• Grants

Disadvantaged business loans

Once you have registered, the SBA will certify your “size status.” This is determined by the annual revenue and number of employees in your business. Other factors that go into determining the size status include:

• Analysis of the industry structure
• Amount of competition
• Size of the company
• Startup cost

This size status determines eligibility for many helpful programs, so it is really important. When you register with the SBA, be sure you have all your paperwork, business plan, and financials in order. This will help the agency to determine you size status and your level of need, at which point you may find yourself being offered a small business loan or line of credit.