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There are many resources available that will assist an entrepreneur in starting a business. Loans between $25,000 and $50,000 – base rate plus 3.25 percent or base rate plus 3.75 percent. Homeowners and renters are eligible for long-term, low-interest loans to rebuild or repair a damaged property to pre-disaster condition. As we all know, on February 17, 2009 the President signed into law the Recovery Act which, under section 502, authorized the SBA to guarantee loans up to 90%.
Designed for a growing business that needs a long-term fixed rate loan for a major acquisition, the projects range from $100,000 to $12,000,000 depending on business type. The maximum allowable rate for both types of loans is 2.75 percent over prime for loans of seven years and longer, and 2.25 percent over the prime rate for loans up to seven years.
Women-Owned Small Business Designation – This designation allows preferential treatment to federal procurement opportunities. Through 8(a) sole source and competitive contracting opportunities, the federal government acts as a catalyst for small business growth, innovation, job creation, and supports the national economic security of the nation.
This eliminates the need to outsource work and will ensure that all areas of your business are covered by the best technical solutions. The number one function of these loan programs is to make loans with longer repayment periods available to small businesses.
Eight small business owners were honored at the 2017 Client Awards ceremony on April 24, 2017. Our experienced Business Development Officers, Credit Underwriting and Closing Groups help keep the approval and closing process running smoothly as well as provide funds quickly and efficiently.…Read More