Federal Support Programs- Contract administration and management Essay

Federal Support Programs- Contract administration and management - Essay Example In this sense, Government loan guarantee gives assurance of paying back part of a loan if the business owner fails (Stanberry, 2012). The General Service Administration would be the most beneficial to a small business in my community because it opens up ways for the business to get government contracts and offers awareness to the owners on the opportunities. Business Development Program would be the least beneficial because it may be difficult to recognize disadvantaged businesses, meaning that the program may not be of any help. These programs are behind the success of small businesses, thus setting a critical component to building a healthy and robust as well as creating jobs for the citizens. Most importantly, they support investment in and lending to small businesses. The two additional elements to support small businesses include fast loan closings and credit decisions for the reason that interest rates are a basis of confirming any good deal in a contract (Stanberry,