Index
Small Business Act (15 U.S.C. Chapter 14A)
Summary
Establishes the Small Business Administration (SBA) and provides programs, policies, and assistance for small businesses.
Rights & Rules
- 01.Small businesses can access various types of loans, loan guarantees, and investment capital programs through the SBA.
- 02.They can benefit from government contracting preferences and set-asides designed to help small businesses win federal contracts.
- 03.Small business owners can receive free or low-cost business counseling, training, and educational resources.
Penalties
- 01.While primarily a support act, misrepresenting a company's small business size or status to gain government contracts can lead to penalties like civil fines, contract fraud charges, and debarment from future federal contracting.
- 02.False statements to the SBA in loan applications can result in criminal penalties.
Verified Citations
U.S. Small Business Administration (SBA) - About SBA
Source"The U.S. Small Business Administration (SBA) helps Americans start, build, and grow businesses. The SBA was created in 1953 as an independent agency of the federal government to aid, counsel, assist and protect the interests of small business concerns..."