Federal Financing Programs Flashcards
the SBA was created to aid, counsel, assist, and protect the ___ of small business in the US
interests
the SBA ___ a portion of loans made by third party lenders to qualified small businesses
garauntees
the 504 Small Business Loan provides long-term, fixed-rate financing to small businesses for major ___ such as land, building, and equipment
fixed assets
the 7(a) loan program is the SBA’s ____ loan program
general
504 loans are provided by
CDCs Community Development Corporations
7(a) loans are provided directly through
lenders
the typical advantage of the 7(a) loan is the ____ repayment term
extended
the maturity rate of a 7(a) could be up to ____ years
7
the 504 loans for fixed assets could have a maturity rate of up to ___ years
25
for the Express Loan Program which is part of 7 (a), approvals can be issued in ___ hours
36
Community Express Loans are for up to ____ and for _____ districts
$25,000; Historically Underutilized Business Zones (HUB Zones)
Patriot Express Loans are made to ______
military community members
The most attractive feature of the Patriot Express Loan is the interest rate which is usually between
2.25% and 4.75% over prime
small businesses are eligible for 7(a) loans if they meet he following criteria
good character demonstrated record for success good credit rating sufficient funds to operate for a profit pledged personal or business assets meet SBA size standards
the export working capital program provides financial assistance to _____ companies
export-ready
export working capital loans provide up to a___ garauntee
90%
international trade loans provide _____ financing to help small businesses compete to expand or develop export markets. Maturities cannot exceed ___ years
long-term; 25
the community adjustment and investment program was created with NAFTA to help
communities that lost a significant number of jobs because of the trade agreement
CAPLines is the umbrella for ____ and ____ working capital needs
short-term and cyclical
Federal MicroLoans can be used for the purchase of machinery and equipment, furniture and fixtures, inventory, supplies, and ______
working capital
MicroLoans must be paid on the shortest term possible no longer than ____ years
six
under the small business surety bond program the SBA guarantees bid, payment, and performance bonds that are issued by private surety companies so that ______ can compete for contract awards
small contractors
Small Business Innovation Research (SBIR) funds high-risk _______ efforts with excellent commercial potential
research and development (R&D)
what are the three purposes of the SBIR program?
- stimulate tech innovation
- bring small businesses into the federal R&D process
- encourage participation by small minority and disadvantaged firms
- increase private commercialization of federal R&D
eligible SBIR companies must be:
- at least 51% American owned and independently operated
- be located in the US
- be for-profit with no more than 500 employees
- have the principal’s primary employment be with the company during the project
every federal agency with an R&D budget of more than ____ has to establish an SBIR program
$100 million
the EDA was established in 1965 to generate new jobs, help protect existing jobs and stimulate growth in _____ areas of the US
economically distressed
the department of housing and urban development was established in 1965 by the _______- Act and administers programs that provide assistance for _____ and for the _____ of the nation’s communities
Housing and Urban Development; housing; development
The community development block grant program (CDBG) provides funds to ________ for local economic development efforts
states and localities
CDBG funds can be used for a variety of projects that aim to ______ neighborhoods, provide improved community ____ and services, and generally promote economic _____.
revitalize; facilities; development
eligibility for CDBG funds =
all states
cities with 50,000 or more
MSAs and urban counties with at least 200,000
*disaster relief areas
state CDBG programs only award grant funds to ____
general local government
USDAs financing mechanisms are designed to provide financial resources that encourage growth and sustainability in ______ communities
rural
the EX-IM Bank of the US is the official export _____agency of the US
credit
the CRADA is a federal technology transfer program. what does it stand for?
cooperative research and development agreement
a CRADA is between a federal agency and one or more partners from ____
private industry, non-profits, academia, or state and local government
CRADA’s purpose is to
promote the sharing of technical expertise in a protected environment
federal laboratory consortiums include
all of the major federal labs
federal lab consortiums’ mission is to improve____
tech transfers between federal facilities and potential users
