Small Business Grants For Women
Small business financing incentives are an important part of the economic growth
plan of every state in the nation. Some states even offer small business grants.
Other small business incentives could include subsidized rates on SBA loans, tax
breaks and participation in business “incubator” programs.
General Information on SBA Loans
All SBA loan programs lend to small businesses unable to secure financing on
reasonable terms through normal lending channels. The loan programs are operated
through private-sector lenders that provide loans which are, in turn, guaranteed
by the SBA -- the Agency has no funds for direct lending or grants. Most private
lenders (banks, credit unions, etc.) are familiar with SBA loan programs so
interested applicants should contact their local lender for further information
and assistance in the SBA loan application process. [Many
States do offer small business grants.]
Here you will find brief descriptions of the primary loan programs available
through funding from the U.S. Small Business Association (SBA). For detailed
information, including qualifications, allowable uses of funds and interest
rates, click on "Complete loan information from SBA."
7(a) Loan Guaranty Program
One of the SBA's primary loan programs, 7(a) offers loans of up to $2,000,000.
(The maximum dollar amount the SBA can guaranty is generally $1 million.)
For complete information on the 7(a) Loan Program, visit the
Women's Business Centers USA site.
Certified Development Company (CDC), a 504 Loan Program
Provides long-term, fixed-rate financing to small businesses to acquire real
estate or machinery or equipment for expansion or modernization. Typically a 504
project includes a loan secured from a private-sector lender with a senior lien,
a loan secured from a CDC (funded by a 100 percent SBA-guaranteed debenture)
with a junior lien covering up to 40 percent of the total cost, and a
contribution of at least 10 percent equity from the borrower.
For complete information on Certified Development Company Loans, visit the
SBA web site.
Microloan Program
This new program offers loans of up to $35,000 to qualified start-up, newly
established, or growing small business concerns. Loans are arranged through
non-profit community based lenders (intermediaries) which, in turn, make loans to
eligible borrowers. The entire Micro loan process is handled on the local level,
but you must go to one of the local intermediaries to apply.
For complete information on Micro loans, visit the
SBA web site.
Disaster Recovery Loans
If you are in a declared disaster area and are the victim of a disaster, you may
be eligible for financial assistance from the U.S. Small Business Administration
- even if you don't own a business. As a homeowner, renter and/or
personal-property owner, you may apply to the SBA for a loan to help you recover
from a disaster.
For complete information on Disaster Recovery Loans, visit the
SBA web site.
America's Recovery Capital Loan Program (ARC)
SBA's
America's Recovery Capital Loan Program can provide up to $35,000 in
short-term relief for viable small businesses facing immediate financial
hardship to help ride out the current uncertain economic times and return to
profitability. Each small business is limited to one ARC loan. ARC loans will be
offered by some SBA lenders for as long as funding is available or until
September 30, 2010, whichever comes first.
For complete information on Disaster Recovery Loans, visit the
SBA web site.
Other SBA Loans
For complete information on the loan programs shown above, as well as other more
specialized loans available through the SBA, see:
Financing Your Business - from the SBA.
Veterans & Disabled Persons?
Unfortunately, the SBA has not been granted funds to offer special loan programs
to assist either veterans or disabled persons. However, individuals of both
groups are eligible for all SBA loan guaranty programs. In addition, veterans
are eligible for special consideration under SBA's guaranty loan programs. The
special consideration given veterans includes: Liaison personnel in each field
office; In-depth management counselling and training assistance; and, Prompt and
priority processing of any loan application.
SBA Loan Checklist
Like any loan, an application for a loan guaranteed by the U.S. Small Business
Administration involves forms and documentation. When you apply for an SBA loan
to start or expand a small business, you will be required to provide
these
forms and documentation.
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