Microloan Programs.

Brian Njihia By Brian Njihia, 3rd May 2016 | Follow this author | RSS Feed | Short URL http://nut.bz/1altemss/
Posted in Wikinut>Money>Loans

SBA is not involved in the application and approval process, and this is because the loan is offered through approved intermediaries. The intermediaries are non-profit community-based lenders with experience in lending and assisting in business management.

Microloan Programs.

Microloan Programs.
SBA is not involved in the application and approval process, and this is because the loan is offered through approved intermediaries. The intermediaries are non-profit community-based lenders with experience in lending and assisting in business management. Applicants contact the nearest Microloan Program Intermediary Lender. For applications to be considered, the borrowers must undergo training. The program’s training covers topics such as business plan, specific training in the relevant industry and general business education. The loans are eligible for startup and existing businesses, women, minorities, low-income earners and certain non-profit centers.
The proceeds are used for working capital, purchase of inventory, machines, and equipment. It cannot be used for purchase of real estate. The maximum one can get is $50,000 and interest rates are negotiated between the lender and borrower and determined by factors like planned purpose of the funds. The rates are between 8-13%, and loan is payable in six years. The lenders require collateral from the borrower.
Disaster Assistance Program
The funds are available to all business sizes and homeowners in a declared disaster location. There are three loans available for small business owners. Borrowers must fill a loan application form and a signed and dated IRS 4506 –T. SBA sends an inspector to assess and estimate the cost of the damage. The applicant must not be in a position to outsource funds elsewhere or use their funds without being exposed to financial hardship. However, physical loans applicants who can get financing elsewhere the interest rate are up to 8%. The loan maximum is $2 Million and the interest does not exceed 4% per year. It is a long-term loan payable in 30 years.
Physical Disaster Loans-
It is used for rebuilding and replacing an uninsured or underinsured property damaged a disaster. Loans are used to replace machinery, real property, inventory, furniture and leasehold improvements. The loan does not replace lost revenue and sales. The loans can also be used to expand and upgrade the business.
Economic Injury Disaster Loans.
It helps the business meet ordinary and necessary financial obligations as they recover from a disaster. Proceeds are used for working capital until normal operations resume. A business may qualify for both economic injury disaster loan and physical disaster loans.
Military Reservist Economic Injury Disaster Loan.
The loans are for businesses facing financial loss when the owner or a major employee is called for active duty as a military reservist. The funds are used to cover operating expenses until the persons are released from active duty. The proceeds cannot be used to expand the business or to re-finance a long-term debt. If the business involved is a major source of employment, then the loan can be more than $ 2 Million. Collateral is required though it cannot be a subject for loan declination.
OTHER SBA’S LOAN PROGRAMS.
There are other programs offered by Small Business Administration such as Small Business Innovation Research Programs, Small Business Technology Transfer Program, Small Business Investment Program and Export Loan Programs among others.
SBA is dedicated to encouraging small business lending so that there is more job creation, which as a result, will promote the country’s economic growth and development. Having all these programs, entrepreneur should identify the one that suits them, and start their project.
There are many advantages of getting a government small business loan, one being the low interest as compared to banks and other financial institutions. The other advantage is the duration of loan maturity, which for all programs is long enough. Basic 7(a) has a prepayment fee for any borrower who repays before the maturity time, and this encourages long-term financing. The lenders are also secure as their risk is lower than lending without SBA guaranty.

Tags

Loans, Loans Against Security, Loans And Bad Credit, Loans And Bankruptcy, Loans And Bursaries, Loans For The Unemployed, Loans Mortgage, Loans Same Day, Loans With Poor Credit, Mortgage, Mortgage Account Online, Mortgage After Bankruptcy, Mortgage Crisis, Mortgage Interest Rate, Mortgage Loan, Mortgage Payment, Mortgage Rates, Mortgage Reduction, Mortgages

Meet the author

author avatar Brian Njihia
"Brian writes SEO articles for businesses that want to see their Google search rankings surge.(What she does.) His articles have appeared in a number of e-zine sites, including EzineArticles.com.

Share this page

moderator johnnydod moderated this page.
If you have any complaints about this content, please let us know

Comments

author avatar Vippivertailut
21st Jul 2016 (#)

Pretty decent stuff. I think the banks have had their fun and there's a new era. For instance the recent bank fiasco/crash gave birth to p2p loans. I have written about them on my blog <a hre="http://vippivertailut.fi">lainaa<>

Reply to this comment

author avatar Vippivertailut
21st Jul 2016 (#)

http://vippivertailut.fi maybe a bit more tidy

Reply to this comment

author avatar Seoonlineajmer
26th Jul 2017 (#)

http://advancehappynewyearimages.com - <strong><a href="http://advancehappynewyearimages.com">Advance Happy New Year Images 2018</a></strong> | Seo Delhi -
http://seoonlineindia.tk - <a href="http://seoonlineindia.tk">Seo Ajmer</a> |
http://mumbaiescort.tk - <a href="http://mumbaiescort.tk">Mumbai Escort</a> | <a href="http://mumbaiescort.tk">Mumbai Escorts</a> |
http://sattamatkaresult.ml - <a href="http://sattamatkaresult.ml">Satta matka result</a> | <a href="http://sattamatkaresult.ml">Satta matka</a>|
http://deepawali.tk - <a href="http://deepawali.tk">Happy Deepawali 2017</a> |
http://happydiwali.ga - <a href="http://happydiwali.ga">Happy Diwali 2017</a> |
http://advancehappydiwaliimages.tk - <a href="http://advancehappydiwaliimages.tk">advance happy diwali images 2017</a> |
http://webdesignking.tk - <a href="http://webdesignking.tk">web designer ajmer</a> , jaipur, <a href="http://webdesignking.tk">udaipur</a> |
http://rakhi2017.tk - <a href="http://rakhi2017.tk">Happy Rakhi 2017</a> |
http://ajmersharifdargah.tk - <a href="http://ajmersharifdargah.tk">Ajmer Sharif Dargah</a> |
http://seoonlinejaipur.tk - <a href="http://seoonlinejaipur.tk">Seo Jaipur</a> |
http://rakshabandhan.ga - <a href="http://rakshabandhan.ga">Happy Raksh bandhan</a> |
http://428545.in - <a href="http://428545.in">Happy Raksh Bandhan 2017 Images</a> |
http://vashikarantotke.com - <a href="http://vashikarantotke.com">Vashikaran</a> - <a href="http://vashikarantotke.com">Vashikaran Totke</a> - <a href="http://vashikarantotke.com">Vashikaran Astrologer</a> - | <a href="http://vashikaranmantra.tk">Vashikaran mantra</a> | http://seoonlinePushkar.blogspot.com - <a href="http://seoonlinePushkar.blogspot.com">Seo Online Pushkar</a> , <a href="http://seoonlinePushkar.blogspot.com">Seo in Pushkar</a> , <a href="http://seoonlinePushkar.blogspot.com">Seo Pushkar</a>
http://seoonlineJodhpur.blogspot.com - <a href="http://seoonlineJodhpur.blogspot.com">seo jodhpur</a> , <a href="http://seoonlineJodhpur.blogspot.com">seo in jodhpur</a> , <a href="http://seoonlineJodhpur.blogspot.com">seo online jodhpur</a> | http://seoonlineAjmer.blogspot.com - <a href="http://seoonlineAjmer.blogspot.com">Seo online ajmer</a>, <a href="http://seoonlineAjmer.blogspot.com">seo ajmer</a> , <a href="http://seoonlineAjmer.blogspot.com">seo in ajmer </a> |
http://seoonlineKota.blogspot.com - <a href="http://seoonlineKota.blogspot.com">seo kota</a> , <a href="http://seoonlineKota.blogspot.com">seo online kota</a> , <a href="http://seoonlineKota.blogspot.com">seo in kota </a>
| http://seoonlineAlwar.blogspot.com - <a href="http://seoonlineAlwar.blogspot.com">seo alwar</a> , <a href="http://seoonlineAlwar.blogspot.com">seo in alwar</a>, <a href="http://seoonlineAlwar.blogspot.com">seo online alwar</a> | http://seoonlineUdaipur.blogspot.com - <a href="http://seoonlineUdaipur.blogspot.com">seo udaipur</a> , <a href="http://seoonlineUdaipur.blogspot.com">seo in udaipur</a> , <a href="http://seoonlineUdaipur.blogspot.com">seo online udaipur</a> | http://seoonlinejaipur.blogspot.com -<a href="http://seoonlinejaipur.blogspot.com">Seo online jaipur</a> , <a href="http://seoonlinejaipur.blogspot.com">seo jaipur</a>, <a href="http://seoonlinejaipur.blogspot.com">seo in jaipur</a>




Reply to this comment

author avatar Kim
6th Sep 2017 (#)

URGENT LOAN HELP @ 2% INTEREST RATE with Victoriafinancier@outlook.com

I was stuck in a financial situation and i needed to refinance and pay my bills for my son's medication and buy a home. I tried seeking for a loans from various loan firms both private and corporate but never with success, and most banks declined my credit. But as God would have it, i was introduced to VICTORIA LAWSON Trust Loan Firm (victoriafinancier@outlook.com ) with 2% interest by a friend, and i got a loan amount within few days because i was not always online to responds to her mails. Today am a business owner and my kids are doing well... so i want to advice any one in need of a loan to quickly contact her via email on victoriafinancier@outlook.com. I own Victoria every day appreciation for all she has done in my life. Her service is strong, big and reliable.

*Full Name:_________

*Address:_________

*Tell:_________

*loan amount:_________

*Loan duration:_________

*Country:_________

*Purpose of loan:_________

*Monthly Income:__________

*Occupation__________

*Next of kin:_________

*Email :_________


Contact Her today { victoriafinancier@outlook.com } for quick and financial assistance

Reply to this comment

author avatar MOHAMMED OSMAN
1st Dec 2017 (#)


Do you need personal loan? Does your firm,company or industry need financial assistance? Do you need finance to start your business? Do you need finance to expand your business? We give out loan to interested individuals who are seeking loan with good faith. Are you seriously in need of an urgent loan contact us at Email:flourishloancredite@gmail.com
APPLICATION DETAILS
Your Full Details:
Full Name:
Loan Amount Need:
Loan Duration:
Phone Number:
Applied before?
State:
Monthly Income:
Country:
You are to send this to our Company Email;flourishloancredite@gmail.com

Reply to this comment

author avatar Jose
27th Jun 2018 (#)

My special greetings to everyone on this Page, If you are poor or you need urgent financial assistance for any purpose kindly get your private loan from Mr Lavington today The CEO of Lavington Finance Center, He will grant you loan of any amount at interest of 3% only , to get loan from him is simple so just contact: lavingtonfinance@gmail.com
OR you can also send a text message or call +18288270635.

Thanks

Reply to this comment

author avatar Dr Purva Pius
20th Aug 2018 (#)

Nigeria, Ghana Turkey, France and Israel.My name is Mrs.Ramirez Cecilia, I am from Philippines. Have you been looking for a loan?Do you need an urgent personal or business loan?contact Fast Legitimate Loan Approval he help me with a loan of $78.000 some days ago after been scammed of $19,000 from a woman claiming to be a loan lender from Nigeria but i thank God today that i got my loan worth $78.000.Feel free to contact the company for a genuine financial Email:(creditloan11@gmail.com)

Reply to this comment

Add a comment
Username
Can't login?
Password