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Reference Desk
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Money For Your Business - Up To $750,000 Guaranteed!
Roughly 98 percent of the companies in the United States qualify as
small businesses - and most of these businesses are eligible for U.S.
Small Business Administration loans up to $750,000, available to build
their operations.
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To these businesses, the SBA
guarantees of 90 percent on lenders loans up to $155,000 and
guarantees of 85 percent on larger loans. The SBA even makes direct
loans to eligible individuals and companies.
As with any business loan, the SBA and its associated lenders look
at the applicant's personal credit history, the business financial
profile and management experience, and the growth trends in the
applicant's industry.
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Among SBA objectives are greater
support for women and minorities in business, aid to rural small business
development, and urban business and job creation programs.
The 7 (a) loan guarantee program is the SBA's standard program. It aids
small businesses needing funds to buy fixed assets or for working capital.
In the 8 (a) program, the SBA acts as prime contractor, contracting with
other federal agencies to negotiate subcontracts with small businesses
owned by socially or economically disadvantaged individuals.
Disabled and Vietnam-era veterans who cannot secure business financing on
reasonable terms from other sources can go to the SBA. Veterans can use
these loans to start a small business, or to build an existing business.
Small companies in the field of energy conservation can find financial
support in the SBA's Small Business Solar Energy and Conservation Loan
Program. Loans are available to a broad range of companies seeking ways to
cut use of U.S. energy resources.
The SBA's Small Loan program encourages SBA-guaranteed loans of $50,000 or
less. Applicants should ask for the SBA Form 4 short form to apply for the
small loans.
The recent micro-loan program offering loans of $200 to $15,000 makes SBA
funding available to even tiny businesses.
The SBA HAL-1 and HAL-2 programs help handicapped individuals and
non=profit workshops to establish, purchase or run a small businesses
The SBA's Certified Development Company (CDC) loan program offers credit
for small and medium sized businesses that fall between the cracks of
programs covered by traditional lenders. And the Export Revolving Line of
Credit program helps small exporters to obtain an SBA guarantee on a loan
or line of credit.
The SBA operates an information desk from 9 a.m. to 5 p.m. EST. Monday
through Friday. Call 1-800-827-5722 (1-800-U-ASK SBA)
Resources:
Do You Need
Working Capital? - Get a business loan with just your signature.
No collateral required. No upfront fees. Up to $500,000 line of credit for
established businesses. Revolving line of credit (borrow, pay it off, use
it again) Use the cash for ANY business purpose. Get your money in 14 days
or less. Get started today!
SBA Article
Copyright Evergreen Publishing
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