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What Guaranteed Loans are Available for Businesses??

(@Anonymous)
New Member

Hello Friends

1)Basic SBA 7(a) Loan Program:This is the SBA’s primary program for small business SBA loans. It is the most flexible and most commonly used small business loan program.A small business owner must apply for this type of loan with a lending institution that accepts this program. However, the SBA guarantee makes it easier for small business owners to qualify and get approval for startup or expansion loans.
2)CDC/504 Loan Program:The Certified Development Companies (CDC) 504 program guarantees long-term loans for small businesses for the purchase of fixed assets or modernization for expansion and job creation. These loans are not distributed by banks, but rather private non-profit corporations set up specifically to aid the economic development of their local communities.
3)Microloan Program:The SBA also has designed a microloan program that provides short-term small business loans up to $35,000. Small business owners can use funds for the purchase of inventory, supplies, furniture, fixtures, machinery, and equipment necessary to help a business expand or get off the ground.
4)Disaster Loans:Floods, tornados, hurricanes: disaster strikes portions of the country on any given day. To help small businesses get back on their feet after a disaster, the SBA designed the Disaster Assistance Loan Program. These low-interest loans help small businesses and non-profit organizations to rebuild or replace real estate, personal property, machinery, and equipment that was damaged or lost due to a declared disaster.

Have a nice day

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Topic starter Posted : 26/04/2010 5:05 am
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