U.S. Small Business Administration (SBA) participates in a number of loan programs designed for business owners who may have trouble qualifying for a traditional bank loan. Below you will find a few of the SBA loan programs.
If you’re planning to start a business or expand an existing business, you might need financing help. SBA participates in a number of loan programs designed for business owners who may have trouble qualifying for a traditional bank loan.
Basic 7 (a) Loan Program: Gives 7(a) loans to eligible borrowers for starting, acquiring and expanding a small businesses.
Certified Development Company (CDC): 504 Loan Program: Provides growing businesses with long-term, fixed-rate financing for major fixed assets, such as land and building.
Microloan Program: Offers very small loans to start-up, newly established or growing small business concerns. SBA makes funds available to nonprofit community based lenders which, in turn, make loans to eligible borrowers in amounts up to a maximum of $50,000.
Disaster Loans: Provide financial assistance to victims of disasters or to individuals in a declared disaster area.
Export Assistance Loans: Provide exporters and lenders with a streamlined method of obtaining financing for loans and lines of credit up to $500,000. Lenders use their own credit decision process and loan documentation exporters get access to their funds faster.
The Veterans Business Outreach Program (VBOP): The Veterans Business Outreach program (VBOP) is designed to provide entrepreneurial development services such as business training, counseling and mentoring, and referrals for eligible veterans owning or considering starting a small business. The SBA has 16 organizations participating in this cooperative agreement and serving as Veterans Business Outreach Centers (VBOC).
source: https://www.co.monroe.mi.us/community_and_health/doing_business_in/small_business_administration_(sba)_programs.php
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