Federal Financing Programs

Question 1

the SBA was created to aid, counsel, assist, and protect the ___ of small business in the US

Answer 1

interests

Question 2

the SBA ___ a portion of loans made by third party lenders to qualified small businesses

Answer 2

garauntees

Question 3

the 504 Small Business Loan provides long-term, fixed-rate financing to small businesses for major ___ such as land, building, and equipment

Answer 3

fixed assets

Question 4

the 7(a) loan program is the SBA’s ____ loan program

Answer 4

general

Question 5

504 loans are provided by

Answer 5

CDCs Community Development Corporations

Question 6

7(a) loans are provided directly through

Answer 6

lenders

Question 7

the typical advantage of the 7(a) loan is the ____ repayment term

Answer 7

extended

Question 8

the maturity rate of a 7(a) could be up to ____ years

Answer 8

7

Question 9

the 504 loans for fixed assets could have a maturity rate of up to ___ years

Answer 9

25

Question 10

for the Express Loan Program which is part of 7 (a), approvals can be issued in ___ hours

Answer 10

36

Question 11

Community Express Loans are for up to ____ and for _____ districts

Answer 11

$25,000; Historically Underutilized Business Zones (HUB Zones)

Question 12

Patriot Express Loans are made to ______

Answer 12

military community members

Question 13

The most attractive feature of the Patriot Express Loan is the interest rate which is usually between

Answer 13

2.25% and 4.75% over prime

Question 14

small businesses are eligible for 7(a) loans if they meet he following criteria

Answer 14

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

Question 15

the export working capital program provides financial assistance to _____ companies

Answer 15

export-ready

Question 16

export working capital loans provide up to a___ garauntee

Answer 16

90%

Question 17

international trade loans provide _____ financing to help small businesses compete to expand or develop export markets. Maturities cannot exceed ___ years

Answer 17

long-term; 25

Question 18

the community adjustment and investment program was created with NAFTA to help

Answer 18

communities that lost a significant number of jobs because of the trade agreement

Question 19

CAPLines is the umbrella for ____ and ____ working capital needs

Answer 19

short-term and cyclical

Question 20

Federal MicroLoans can be used for the purchase of machinery and equipment, furniture and fixtures, inventory, supplies, and ______

Answer 20

working capital

Question 21

MicroLoans must be paid on the shortest term possible no longer than ____ years

Answer 21

six

Question 22

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

Answer 22

small contractors

Question 23

Small Business Innovation Research (SBIR) funds high-risk _______ efforts with excellent commercial potential

Answer 23

research and development (R&D)

Question 24

what are the three purposes of the SBIR program?

Answer 24

1. stimulate tech innovation
2. bring small businesses into the federal R&D process
3. encourage participation by small minority and disadvantaged firms
4. increase private commercialization of federal R&D

Question 25

eligible SBIR companies must be:

Answer 25

• 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

Question 26

every federal agency with an R&D budget of more than ____ has to establish an SBIR program

Answer 26

$100 million

Question 27

the EDA was established in 1965 to generate new jobs, help protect existing jobs and stimulate growth in _____ areas of the US

Answer 27

economically distressed

Question 28

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

Answer 28

Housing and Urban Development; housing; development

Question 29

The community development block grant program (CDBG) provides funds to ________ for local economic development efforts

Answer 29

states and localities

Question 30

CDBG funds can be used for a variety of projects that aim to ______ neighborhoods, provide improved community ____ and services, and generally promote economic _____.

Answer 30

revitalize; facilities; development

Question 31

eligibility for CDBG funds =

Answer 31

all states
cities with 50,000 or more
MSAs and urban counties with at least 200,000
*disaster relief areas

Question 32

state CDBG programs only award grant funds to ____

Answer 32

general local government

Question 33

USDAs financing mechanisms are designed to provide financial resources that encourage growth and sustainability in ______ communities

Answer 33

rural

Question 34

the EX-IM Bank of the US is the official export _____agency of the US

Answer 34

credit

Question 35

the CRADA is a federal technology transfer program. what does it stand for?

Answer 35

cooperative research and development agreement

Question 36

a CRADA is between a federal agency and one or more partners from ____

Answer 36

private industry, non-profits, academia, or state and local government

Question 37

CRADA’s purpose is to

Answer 37

promote the sharing of technical expertise in a protected environment

Question 38

federal laboratory consortiums include

Answer 38

all of the major federal labs

Question 39

federal lab consortiums’ mission is to improve____

Answer 39

tech transfers between federal facilities and potential users