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Ty Kiisel: Should the Small Business Administration be abolished?

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  • Downtime Saint George, UT
    Sept. 6, 2013 3:15 p.m.

    Ray Hennessey is exactly right. I have two successful start-up businesses. The SBA was no help at all. They didn't ever refuse to lend me money; they just outlasted me with endless reams of documents. Has anyone (other than a member of a protected class)ever actually got an SBA loan? Just further proof that the government fails at everything it touches.

  • Ty Kiisel Salt Lake City, UT
    Sept. 9, 2013 12:14 p.m.

    Downtime,
    No question, the SBA is not a great place to go for startups looking for financing. I consider them to be a more traditional source of funding that will look at credit score, time in business, annual revenues, and collateral—not a strong suite for most startups. Nevertheless, I still believe they fill an important niche for small business funding. Because startups, Main Street businesses, and other larger small businesses are all considered "small businesses" I think the SBA needs to re-evaluate how they look at small business and focus more on the smaller small businesses within the group. That means making smaller loan amounts a little less cumbersome.
    —Ty