Small Business Administration Background

by:
The Small Business Administration was established in 1953. Since that time the agency has dispensed millions of dollars in loans and loan guarantees, contracts, consulting assistance and other programs for small business across the United States.

The seeds of the formation of the Small Business Administration were sown in the challenges of the Great Depression and World War I and grew out of a number of predecessor organizations.

Earlier Small Business Administration Agencies

In 1932 Herbert Hoover instituted the Reconstruction Finance Corporation. The agency sought to ameliorate the effects of the Great Depression.It sought to accomplish this through the establishment of a loan program to assist both large and small businesses adversely effected by the Great Depression. It was adopted as the personal project of Hoover's successor, President Franklin D. Roosevelt

The need to assist small business intensified with the onset of World War II, when they were placed at a competitive disadvantage vis-a-vis larger concerns. The Smaller War Plants Corporation was formed in 1942 to support small businesses, improve their financial strength and help them to more fully participate in the was effort. The Smaller War Plants Corporation accomplished this by providing loans directly to private entrepreneurs, providing incentives to large financial institutions to increase lending to small businesses and acting as an advocate for small business in the federal procurement process.

After the war the SWPC was absorbed into the Reconstruction Finance Corporation. In addition to the services provided by the RFC the Commerce Department also had an Office of Small Business. The charter of the Office of Small Business was primarily educational, predicated on the stance that the lack of success of many small business was insufficient access to information of running a business and business skills. The Office focused its offerings on pamphlets and management consulting to individual business owners.   (continued...)

Small Business Administration Background
  Page 2

About The Author

Michael Saunders has an MBA from the Stanford Graduate School of Business. He edits a site on Government Grants for Women Owned Businesses and also edits HandsNet - A Human Services News Website.




Additional Government Grants Resources


Looking for College Grants?
Grants are a type of student aid that is awarded by the government. Grants for college students do not have to be repaid. Grants are based upon financial need, as calculated by the federal aid progr...


Justice and Mental Health Collaboration Training and Technical Assistance Program
The Office of Justice Programs has recently established the Justice and Mental Health Collaboration Training and Technical Assistance Program (JMHCP), wherein it seeks to increase public safety by encouraging collaboration between criminal justice, juvenile justice, and mental health and substance abuse treatment systems.


Center for Disease Control and Prevention: Training for States on Winnable Battles
The purpose of the Training for States on Winnable Battles program is to enable the CDC to offer training, educational materials, and technical assistance to legislative executives and administrative branches of states.


Grants From The Department of Labor
The Department of Labor was primarily created to nurture, promote and develop the welfare of job seekers, wage earners, and retirees of the United States of America, as well as to improve the country's working conditions, advance employment opportunities and ascertain work-related rights and benefits.


Grand Challenges in Global Mental Health: Integrating Mental Health into Chronic Disease Care Provision in Low- and Middle-Income Countries
The National Institutes of Health has recently formed a partnership with the National Institute of Mental Health (NIMH) in order to establish the Grand Challenges in Global Mental Health: Integrating Mental Health into Chronic Disease Care Provision in Low- and Middle-Income Countries Program.


Computing Education Grants Program for the 21st Century
The National Science Foundation has recently established the Computing Education Grants Program for the 21st Century (CE21), wherein the agency primarily aims to create a robust computing research community, as well as a computationally competent 21st century workforce, and ultimately, a computationally empowered citizenry.


Small Business Grants - Support for Veterans
The SBA is dedicated to lend a hand to the service people in America and directly links with the Patriot Express Loan for veterans who desire to initiate their own business and want to start commercial activities. The SBA also plays a role in encouraging growth and job creation during the process, which is an indispensable part to support economic prosperity.





Bina Sitaram, a 40-year old former senior garment technician in the fashion industry, has created a social enterprise that affords young students lessons in healthy living by holding gardening, cooking and arts and crafts sessions.









More Federal Domestic Assistance Programs


Market Access Program | Program of Protection and Advocacy of Individual Rights | Northern Border Regional Development | National Clean Diesel Emissions Reduction Program | Mathematics and Science Partnerships |  Site Style by YAML | Grants.gov | Grants | Grants News | Sitemap | Privacy Policy


Edited by: Michael Saunders

© 2004-2020 Copyright Michael Saunders