The Small Business Administration (SBA) and the Department of War (DOW) have signed an agreement to improve access to capital for small businesses operating in the defense sector.
Specifically, the DOW Economic Defense Unit will identify defense-related companies in need of financing and refer them to the SBA as potential loan candidates. The SBA will use its 7(a) and 504 business loan program networks to connect companies with capital backed by the agency, the SBA said in an Oct. 12 statement.
Last month, the Pentagon awarded Raytheon another contract worth up to $20.7 billion to accelerate production of the Advanced Medium-Range Air-to-Air Missile, commonly known as AMRAAM. The missile, currently in the fifth generation, is deployed by 44 nations worldwide.We had a problem loading this article. Please enable javascript or use a different browser. If the issue persists, please visit our help center.
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