Uncle Sam's Money and How to Get a Micro Loan

 by: Rebecca Game

The US Governement has a MicroLoan Program that provides small loans to new start-up companies, newly established businesses, or loans to help small business growth concerns.

Under this government loan program the Small Business Administration, (SBA) will make funds available to nonprofit community based lenders (also known as intermediaries) which, in turn will make loans available to eligible borrowers in amounts of up to $35,000.

You will submit your application to a local intermediary and then all the credit decisions are made at a local level.

Terms:

You can get a micro loan for a maximum term of 6 years. The loan terms will vary according to how much you are borrowing, what you are using the loan for, and your needs as a small business owner.

Interest Rates:

The interest rates on your loan will vary according to the intermediary lender and also the costs involved from the US Treasury.

Collateral:

Although collateral is not always required, each intermediary will have its own credit requirements. If you are a business owner in need of a loan, be prepared to offer some sort of callateral as a personal guarantee from you as the business owner.   (continued...)

Uncle Sam's Money and How to Get a Micro Loan
  Page 2

About The Author

Rebecca Game is the founder of Digital Women, an online community for women in business. A 30 year entrepreneur and dedicated to helping other women find grants and loans. Visit her site: http://www.digital-women.com Grants for Women.




Additional Government Grants Resources


Small Business Grants - Free or Low Cost Consulting for Your Small Business
Did you know that it is possible for you to receive free or low cost consulting for your small business? If it sounds too good to be true, rest assured it is actually possible. Not only does it make sense economically, but you would be receiving advice from professionals who have extensive business experience.


Keystone Home Loan PLUS Program
The Pennsylvania Housing Finance Agency, otherwise termed as PHFA, is an independent agency established in year 1972 in an attempt to assist the provision of reasonable and affordable housing opportunities the elderly, persons and families of modest means, and people suffering from disabilities.


Biomedical and Behavioral Research Innovations to Ensure Equity in Maternal and Child Health
the National Institutes of Health has recently partnered with the Eunice Kennedy Shriver National Institute of Child Health and Human Development (NICHD) to establish the Biomedical and Behavioral Research Innovations to Ensure Equity (BRITE) in Maternal and Child Health Grant Program.


Connecticut Housing Finance Agency Mortgage Programs for Military, Police and Teachers
The Connecticut Housing Finance Agency has established the Mortgage Programs for Military, Police and Teachers so as to provide reasonable housing opportunities to veterans and active duty service members of the United States Military, the National Guard, along with teachers and police officers who are assigned in under-served areas.


What does it mean that Federal Student Aid is a PBO?
A PBO is a Performance Based Organization representing an initiative that was created in order to help the government operate more effectively and efficiently. When people call Federal Student Aid a PBO, this means that they are committed to and hold the same standards of the Performance Based Organization.


First Time Homebuyer Programs in District of Columbia
The Department of Housing and Community Development, more commonly referred to as DHCD, is a local government agency in the District of Columbia that is primarily responsible for increasing quality housing and community development opportunities.


Government Grants Within The United States Health Sector
The health care system in the US is as diverse as it is all-encompassing. A huge number of health care facilities are now owned by private sectors while a huge chunk of health insurance plans are primarily provided by the government in the public sector.






Social Entrepreneurship
Spotlight



‘Social Entrepreneurs Challenge’ to Award Groundbreaking Innovators And Crowdfunders


‘Social Entrepreneurs Challenge’ to Award Groundbreaking Innovators And Crowdfunders

The Skoll Foundation, in partnership with the Huffington Post, kicks off the Social Entrepreneurs Challenge, a fundraising event for organizations endeavoring to fix the most critical problems of society.


Unable to select database



More Federal Domestic Assistance Programs


Greater Research Opportunities (GRO) Fellowships For Undergraduate/Graduate Environmental Study | Resources and Ecosystems Sustainability, Tourist Opportunities, and Revived Economies of the Gulf Co | Homeless Prevention and Rapid Re-Housing Program Technical Assistance | Science To Achieve Results (STAR) Research Program | CCC"s Dairy Export Incentive Program |  Site Style by YAML | Grants.gov | Grants | Grants News | Sitemap | Privacy Policy


Edited by: Michael Saunders

© 2004-2020 Copyright Michael Saunders