U.S. Small Business Administration Office of Women's Business Ownership
  
For America's women entrepreneurs, getting small business loans has just gotten easier. 
  
Women are saying over and over that what they want most is not a small business loan, but  revolving credit; the ability to access money when they need it-when  seasonal expenses hit, when downturns occur, when their small businesses take  off and require cash to expand.  The cyclical money that never seems to be  available when they need it most is also what they want most. 
  
Now the Small Business Administration is making that revolving credit a  reality. The Small Business Administration major revisions to one of the Small Business Administration's small business loan programs.  SBAExpress (formerly FA$TRAK) now makes unsecured revolving lines of credit up to $25,000 more readily available to small businesses.  
  
SBAExpress began making small business loans up to $150,000  available through Small Business Administration lenders who are authorized to process and service  Small Business Administration-guaranteed small business loans. For small business loans up to $25,000, if the lender determines it is appropriate, no collateral is required.  For small business loans over  $25,000, lenders use their own collateral policies.  
  
During 1999, the SBAExpress participants approved about 4,100  loans for $191 million. 
  
The SBALowDoc  Program, which is available for small business loans up to $150,000, uses a  one-page Small Business Administration loan application to report summary financial and eligibility data to the Small Business Administration. For both small business loan programs, loans will be processed in less than 36 hours. 
  
SBAExpress and SBALowDoc represent major advances for all small  businesses, but they will be of special benefit for women business owners,  who have long needed these kind of small business loan programs.

 Federal Government Money For Women

Two more great pieces of news about getting more money to women:  In June 1998,  the Small Business Administration announced the first-ever women-owned,  women-directed small business investment companies. small business investment companies are  Small Business Administration-leveraged, companies that make venture capital available  to businesses needing up to $5 million in financing. 

Both of the new  small business investment companies are focusing their efforts on women-owned businesses, which means at  least $50 million is now available for women-owned businesses. A third woman-owned small business investment company is in the works as well.  

The other good news is that the Small Business Administration's Loan Pre-Qualification Program is no  available nationwide. The Pre-Qual  Loan Program helps a small business owner put  together a solid loan application and find a lender with the help of a  letter of pre-qualification from the Small Business Administration. It's been an important program  for women business owners in its pilot areas, and now women entrepreneurs  everywhere can take advantage of it. 
  
The Small Business Administration has kept the promise to open new possibilities for those who have been left out in the past. Now,  women of America, take the money and run - run your businesses.