Washington (June 27, 2008) – The U.S. Small Business Administration has introduced two new free online finance courses to help small business owners with the basic principles of finance and borrowing.
The new self-paced courses, Finance Primer: Guide to SBA’s Loan Guaranty Programs at http://app1.sba.gov/sbtn/registration/index.cfm?CourseId=29 and How to Prepare a Loan Package at http://app1.sba.gov/sbtn/registration/index.cfm?CourseId=28, walk business owners through steps that answer questions about what debt financing is, what loan programs are available, what small businesses should know about borrowing money, how to prepare a loan package and how loan requests are reviewed by lenders.
“It is important for the SBA to provide information tools to help our nation’s entrepreneurs who desire the personal freedom and economic independence that can come with business ownership,” said SBA Acting Administrator Jovita Carranza.
The Finance Primer gives an overview of the SBA’s loan guaranty programs to help small businesses understand the variety of financial resources, including those from the SBA.
The finance courses can help entrepreneurs avoid some of the common mistakes made such as securing the wrong type of financing, miscalculating the amount of financing required, and underestimating the cost of borrowing money.
The Loan Package course includes small business links to related information, and refers course participants for direct support in preparing a loan request to appropriate resources that include SBA’s district offices, SBA resource partners and lenders.
Course participants who complete the 30-minute online training programs can earn a certificate of completion from the SBA, with their name, date and course title.
The new finance courses have been added to a menu of more than 26 online tutorials offered by the SBA. On a typical day, 800 to 2,000 customers register for free online courses offered by the SBA through its virtual training campus at the Small Business Training Network (SBTN) (www.sba.gov/training).