Government Shutdown: SBA Closed, Millions of Small Businesses Affected


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Government Shutdown Closes SBA, Millions of Small Businesses Affected

The government shutdown closed the Small Business Administration (SBA) in Washington DC, affecting millions of small business owners throughout the nation.

1/14/2019 UPDATE: Government Shutdown
Now the Longest in American History

The government has now been closed for 23 days, breaking the 21-day record set in 1995 by during Bill Clinton’s administration, making the current shutdown the longest in American history.

Negotiations between Trump and Congress over border wall funding are more hostile than ever, leaving no end in sight for the shutdown, and many thousands of government workers unpaid.

The President has repeatedly stated that he is willing to keep the government shut down as long as it takes for him to get the funding amount he requests – even if it takes anywhere from months, to years to reach an agreement.

But the President isn’t the only one being denied the funding he needs.

Government agencies including the SBA also remain closed, leaving millions of small business owners that rely on government funding without a means to obtain capital.

This is leading small business owners across the country to obtain financing through alternative funding products including small business loans, business lines of credit and Hybridge™ SBA Loans to tide them over until the SBA reopens.

Apply for Alternative Small Business Funding

SBA Closes, Along With
Thousands of Government Agencies

Thousands of government workers will be working without pay until the government opens back up (expected sometime in the first half of January).

This includes the Small Business Association: a government agency that provides one of the most sought-after financing options to US small businesses: the SBA loan.

Small Business Affected By SBA Closure

As the SBA closes its doors to new applications, business owners across the nation in need of financing are left scrambling for a comparable alternative solution.

However, the SBA has stated that those who have already submitted an SBA loan application will still be able to receive their funds on schedule.

Those that have not submitted an application are expected to have to wait until mid-January before starting their SBA funding process.

The Alternative SBA Solution

Those that cannot wait to get the capital they need from an SBA loan are applying for alternative funding options to tide them over until the government opens up again.

These include small business loans, business lines of credit, and the new, expedited Hybridge™ SBA Loan.

For those seeking SBA funds, but can’t afford to wait, the Hybridge™ SBA Loan offers an all-in-one solution that is helping many survive the government shutdown.

The Hybridge™ SBA Loan includes initial bridge capital, which business owners receive within 24 hours.

This is used to get business owners the immediate capital they need to tide them over until the government opens back up again.

Once the SBA opens its doors again, business owners will be better equipped and prepared to apply for a traditional SBA loan.

Funds will be received in as little as 45 days after the SBA reopens through the Hybridge™ SBA Loan’s expedited process, easier approval, and limited paperwork requirements.

Don’t Be Shut Down From the Funds You Deserve

Over 90% of all applicants who apply for SBA funding through National get approved, faster and easier than any government agency.

The government may have shut down, but when it comes to funding business growth, National never sleeps.

Call (877) 482-3008 for a free consultation, and see if a Hybridge™ SBA Loan – or any other of our 12+ financing products – is the right fit for you and your business.

Or, get the funds you need in as little as 24 hours by filling out our free 60-second application online.

Last Updated on January 14, 2019

National Business Capital helps entrepreneurs secure quick and fair financing to save time and cultivate sustainable growth.

Our stress-free online platform is designed for simplicity and speed, helping business owners go from application to approval in a matter of hours. And while we remain a leader in the Fintech industry, our clients agree it’s our personalized service and award-winning team that sets us apart.

From SBA loans to lines of credit, to equipment financing, and more, business owners can access all the different financing programs available to them in one place. Through our streamlined process, we have helped clients secure $2 billion in financing since 2007, and, more importantly, we’ve helped entrepreneurs save a tremendous amount of time and grow faster.

About the Author, Joe Camberato

Joseph Camberato, CEO of National Business Capital, developed a passion for business at a young age. Joe started his company in 2007 in his spare bedroom and has grown to secure over $1 Billion dollars in financing for small business owners nationwide. National’s team has an amazing culture and has been name the #1 Top Workplace on Long Island 3 years in a row and counting. Joe is a trusted financial expert who’s published more than 2,000 articles in the last 3 years. His articles have generated over 5 million page views and has been featured on blogs such as Google News, Yahoo, CNBC, Forbes Magazine, etc. His passion has also inspired him to build the "GrowByJoe” YouTube channel where he shares his insights into small business trends and tips for growth. Joe also holds a seat on Forbes Finance Council and is an active member of the Young Presidents' Organization (YPO), a global leadership community.

Disclaimer: The information and insights in this article are provided for informational purposes only, and do not constitute financial, legal, tax, business or personal advice from National Business Capital and the author. Do not rely on this information as advice and please consult with your financial advisor, accountant and/or attorney before making any decisions. If you rely solely on this information it is at your own risk. The information is true and accurate to the best of our knowledge, but there may be errors, omissions, or mistakes.