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Federal Government Launches Small Business Loan Programs Targeting Start-Ups, Women Owned Small Businesses, And Minority Owned Small Businesses! Up To $150,000! Click Here For More Info On Federal Government Small Business Loans For Women And Minorities Streamlined Small Business Loans with Less Paperwork, Fast Turnaround, More Small Business Lenders. U.S. Federal Government announced that two streamlined small business loan programs are expected to provide more than $1 billion in hard-to-get small business loans that will help open the doors of opportunity in small business start-ups, women-owned small businesses and minority-owned small businesses, and small businesses in inner cities and rural areas. The small business loan programs, SBALowDoc loans and SBAExpress loans, target a gap in the marketplace for small business loans under $150,000. These two programs make it easier and more attractive for lenders to make smaller Federal Government-guaranteed loans. The major new features of these two small business loan programs are:
The revolving credit feature in SBAExpress loan is the agency's response to one of the top recommendations from a series of forums sponsored by Small Business Administration, the National Women's Business Council and the Federal Reserve Bank on access to capital for women-owned businesses. The improved SBALowDoc loan program continues to feature a one-page application. Applicants will, of course, continue to provide additional information required by private lenders participating in the small business loan program. Both programs will offer short-term and long-term loans, and the Small Business Administration will encourage lenders to use SBAExpress loans to provide revolving credit loans. President Clinton recognized the importance of the Small Business Administration's outreach effort during a White House ceremony, as he discussed efforts to expand economic opportunities for all Americans. "The Small Business Administration's small business loan programs will provide many more Americans with access to the winner's circle of this new economy," said President Clinton, who spoke about the Small Business Administration initiative at an event with the Advisory Board to his Initiative on Race. "By opening doors for these new small businesses, we will help build communities, one small business at a time." Small Business Administrator Alvarez said: "These small business loan programs will benefit all small businesses, but they will be especially helpful for small businesses in inner cities and rural communities, including firms owned by women, African-Americans, Hispanic Americans, Native Americans, and other minorities - firms that make up what we call 'New Markets.' "SBAExpress loans and SBALowDoc loans will help to narrow the opportunity gap, and will serve as a cornerstone of the Small Business Administration's ongoing transformation into a stronger, more responsive, more user-friendly, and more streamlined 21st century leading edge financial institution," said Ms. Alvarez. "Small Business Administration has streamlined for success - the success of small businesses all over America," she said. "These programs are fast and easy for both small business lenders and small business owners." "SBALowDoc has accomplished exactly what we asked it to accomplish," Administrator Alvarez said. "By streamlining the application process and relying on a simplified credit analysis, SBALowDoc has created a marketplace for smaller commercial loans where one did not exist in the past." Click Here For More Info On Federal Government Small Business Loans For Women And Minorities Copyright © E.Q. Marketing International (EQMI) |