Myth1:	It takes four to six months to get a SBA Loan processed.
Fact:	Completed loan applications from banks average 10 working days.

Myth2:	Business couseling costs money.
Fact:	SBA provides free business counseling to all business people.

Myth3:	SBA provides no assistance in helping a business get federal contracts from the government.
Fact:	SBA has procurement assistance at Small Business Development Centers across the country.

Myth4:	A business person can get cheaper interest rates for business loans from SBA.
Fact:	SBA does not provide lower interest rates for small business people. Interest rates are negotiable with the bank, but are limited to 2.25% above the prime rate in the Wall Street Journal for loans with maturities of less than 7 years, and limited 2.75% with maturities of 7 years or more.

Myth5:	Small loans are not available through SBA.
Fact:	SBA provides an incentive to banks to make loans nder $50,000 by reducing their guarantee fee by half.

Myth6:	SBA has no specialized programs to assist minority business persons.
Fact:	SBA's 8(a) and 7(j) programs provide specialized management and technical assistance to minorities.

Myth7:	There are few SBA loan programs.
Fact:	SBA finance programs provide a wide spectrum of opportunities including Guaranteed Loan, Handicapped Assistance, Contract Loan, Veterans Loan, Exported Revolving LOC, and Small Business ($50,000 and less).

Myth8:	SBA has no programs to assist veterans.
Fact:	SBA gives veterans priority when their loan application arrives in the office or when they need business counseling to start a small business.

Myth9:	SBA has grants to start or expand a small business.
Fact:	SBA has NO grant program to start or expand a small business.

Myth10:	Contractors receive no assistance from SBA.
Fact:	SBA's Surety Bond Guarantee Program assists contractors with their Bid Bond, Performance Bond, and Payment Bond.