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~The Small Business Administration~
The Small Business Administration is there for the purpose of helping and financing small businesses. There are many different types of loans that can be obtained through the SBA under its 7(a) Guaranty Program.
These funds come from private sector lenders, generally banks, and are guaranteed by the SBA. Usually, the SBA doesn't loan money itself, it just finds someone who WILL loan you the money, then handles the details for the lender.
To be eligible for one of these loans, you must meet the following criteria:
- Your business must be for-profit.
- You must be doing business in the United States or its possessions.
- You must own a reasonable amount of equity in the business.
- You must have used up your other means of financing, including using personal assets.
There are other requirements for a loan through the SBA, but those requirements cannot possibly be listed here, so it would be best to check with your local SBA office for more information.
The various loans that the SBA offers are:
- CAPLines
- Certified Development Company
- Defense Loan and Technical Assistance (DELTA)
- FA$TRAK
- International Trade Loans
- Microloan
- Minority and Women's Pre qualification Pilot Loan Programs
- Pollution Control Loans
- Qualified Employee Trusts
- The Export Working Capital Program (EWCP)
The SBA offers small businesses more than loans. The SBA is a treasure trove of free information and help for small businesses.
You can obtain more information by calling the SBA at 1-800-8ASK-SBA.
You can also visit their web site
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