Small Government Business Loans Grants
small government business loans grants
What is an SBA Business Loan?
An SBA business loan is a debt instrument provided by you to by a lending institution that has been guaranteed by the United States government through the small business Administration. Many entrepreneurs wrongly think that it is the federal government that grants the loan. This is not the case. With an SBA loan, the government essentially acts as your cosigner for the loan. In the event that you default on the business loan, the US government will provide the bank with a reimbursement for the loan. As such, banks love to make SBA loans as they present very little risk to the bank, provide small business owners with the capital that they need, and increase activity in community bank branches – all while making a nice profit for themselves.
Applying for an SBA business loan is a difficult process despite the fact that the only limitations regarding who can apply is that you must be of good moral character (ie. no criminal record) and an American citizen. You should be immediately aware that receiving approval from the SBA to receive a loan is a difficult process and can take anywhere from 45 to 180 days depending on how well you have prepared the appropriate documentation and business plan for the business loan.
The documentation required to obtain a business loan that is backed by the SBA is significantly larger than that of a conventional business loan. Additionally, there are several different SBA loan programs that are available to you depending on your borrowing needs. These loan programs include, but are not limited to:
- SBA 504 Loan
- SBA 7(a) Loan
- Express Program Loans
- Military Veteran Business Loans
- Rural Business Loans
- Micro Business Loans
When determining which SBA loan is right for you, you should always consult with a properly trained accountant or financial advisor that can take into account your entire business and personal financial situation.
About the Author
LookingforBusinessLoan.com is a specialty website that provides content that focuses on the needs of small business owners and people seeking start up business loans. We encourage you to visit our website if you are looking a for business loan.
what is a good site to find info about business loans , grants , and any other government .?
my husband and i were looking to start a small business and we would like to know if anyone has an idea on a website that could help us out on getting some assistance on business loans and anything else . . . any information will help . ( were new at this ) thanx 
I suggest you check out small business administration’s financing page http://www.sba.gov/financing — read their financing requirements and factors borrowers should know.
When looking for loans, SBA (and banks) may consider these factors aside from your personal credit history:
- A business plan explaining what the business is
- Your background and experience in the business — in my experience, this is KEY in the eyes of the bank because they want to make sure that you know what you are doing and that you can make the business work. If you don’t have any experience with the business, have someone on board that knows the business to give banks assurance that someone will guide you
- Your credit factors because it shows your dependability and how well you handle credit. They will do a credit check on you and poor credit history may be frowned upon, or even reason for the disapproval of your loan application
- Your collateral. Banks, even SBA guaranteed loans, want the borrower to show collateral. They want to be guaranteed that somewhere somehow they can get payment from you
- Condition or terms of loans. Banks would want to know three important things: “How much money are you requesting? What will it be used for? and For how long will it be needed?” Banks oftentimes prefer to approve loans for items that can be identified, has lasting value, and can be repossessed and sold if things fail.
Aside from the traditional SBA loan guarantees, I suggest you consider microloan providers. They typically fund up to $30K Read about the SBA Microloan Program http://www.sba.gov/financing/sbaloan/microloans.html.
If you will require a smaller amount, it may be easier to get the amount from banks. Some banks extend what they call “small business lines of credit” often through credit cards. Those are easier to get and can be based on your credit history alone. They typically are up to $100,000. For example, Wachovia’s has various business lines of credits http://www.wachovia.com/small_biz/page/0,,446_612_1399,00.html Their business line of credit can even be approved overnight
As for grants, there’s no grants for starting a business. Unlike the myths that some perpetuate, federal government and even private foundations hardly give grant money for a for-profit business.
Even SBA does NOT give out grants. From the SBA website http://www.sba.gov/expanding/grants.html
“The U.S. Small Business Administration does not offer grants to start or expand small businesses, although it does offer a wide variety of loan programs. (See http://www.sba.gov/financing for more information) While SBA does offer some grant programs, these are generally designed to expand and enhance organizations that provide small business management, technical, or financial assistance. These grants generally support non-profit organizations, intermediary lending institutions, and state and local governments.”
Nonetheless, you can go to the Catalog of Federal Domestic Assistance (CFDA) http://www.cfda.gov and Grants.gov http://www.grants.gov – these are two sites created by the federal government to provide transparency and information on grants. Browse through the listings and see if you can find any grant that would support a for-profit venture.
Here is a listing of federal grants for small businesses. See if there is any available for individuals for starting a business — THERE’S NONE.
http://12.46.245.173/pls/portal30/CATALOG.BROWSE_BENEF_RPT.show
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La Quinta Inn & Suites Grants Pass $119 La Quinta Inn & Suites Grants Pass is located in Grants Pass and near the airport. Hotel Features. Recreational amenities include an indoor pool, a spa tub, and a fitness facility. This hotel has a 24 hour business center and offers a meeting/conference room, audio visual equipment, and business services. Complimentary wireless Internet access is available in public areas. The hotel serves a complimentary continental breakfast each morning in the breakfast room. Guest parking is complimentary. Additional property amenities include multilingual staff and laundry facilities. This is a smoke free property. Guestrooms. 59 air conditioned guestrooms at La Quinta Inn & Suites Grants Pass feature coffee/tea makers and complimentary weekday newspapers. Accommodations offer city or mountain views. Beds come with pillowtop mattresses and down comforters. Accommodations include refrigerators and microwaves. Bathrooms feature shower/tub combinations, complimentary toiletries, and hair dryers. Wired high speed and wireless Internet access is complimentary. In addition to ergonomic chairs, guestrooms offer multi line phones with voice mail, as well as free local calls (restrictions may apply). 37 inch high definition televisions have cable channels. Also included are irons/ironing boards and clock radios. Housekeeping is offered daily and guests may request wake up calls. Guestrooms are all non smoking. Notifications and Fees:This property’s policy is to refuse certain bookings for the purpose of group events or parties, including pre wedding stag/bachelor and hen/bachelorette parties. Minimum Spring Break check in age is 21 years old. There are no room charges for children 18 years old and younger who occupy the same room as their parents or guardians, using existing bedding. Some properties have extra fees for amenities or services that may apply even if you do not use them. Government fees or taxes also may be charged to you when you check in or check out. This property told us they will charge you for the following: A 10 percent city/local tax will be charged We have included all charges provided to us by the property. However, charges can vary, for example, based on length of stay or the room you book.The following fees and deposits are charged by the property at time of service, check in, or check out. Cleaning deposit: USD 250 per stayRollaway bed fee: USD 10 per night The above list may not be comprehensive. Fees and deposits may not include tax and are subject to change. Notifications and Fees:This property’s policy is to refuse certain bookings for the purpose of group events or parties, including pre wedding stag/bachelor and hen/bachelorette parties. Minimum Spring Break check in age is 21 years old. There are no room charges for children 18 years old and younger who occupy the same room as their parents or guardians, using existing bedding. Some properties have extra fees for amenities or services that may apply even if you do not use t |
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Red Lion Hotel Grants $99 Located in Grants, Red Lion Hotel Grants is in the suburbs. Hotel Features. Red Lion Hotel Grants’s restaurant serves breakfast and dinner. A poolside bar and a bar/lounge are open for drinks. Room service is available during limited hours. The hotel serves a complimentary breakfast. Recreational amenities include an indoor pool, a spa tub, a sauna, and a fitness facility. Wireless Internet access is available in public areas. This Grants property has event space consisting of banquet facilities, conference/meeting rooms, and a ballroom. Business services and wedding services are available. Guest parking is complimentary. Additional property amenities include an arcade/game room, multilingual staff, and gift shops/newsstands. Guestrooms. 126 air conditioned guestrooms at Red Lion Hotel Grants feature coffee/tea makers and blackout drapes/curtains. Bathrooms feature complimentary toiletries and hair dryers. Wireless Internet access is available. Premium satellite television is provided. Rooms also include irons/ironing boards and clock radios. Guests may request refrigerators and wake up calls. Housekeeping is available daily. Notifications and Fees:The following fees and deposits are charged by the property at time of service, check in, or check out. Pet fee: USD 15.00 per room, per stayLate check out fee: USD 25.00 The above list may not be comprehensive. Fees and deposits may not include tax and are subject to change. Notifications and Fees:The following fees and deposits are charged by the property at time of service, check in, or check out. Pet fee: USD 15.00 per room, per stayLate check out fee: USD 25.00 The above list may not be comprehensive. Fees and deposits may not include tax and are subject to change. |
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BEST WESTERN GRANTS PASS INN $117 Hotel Year Built 1983 Year Remodeled 2006 Additional Property Description This cozy and picturesque Grants Pass, Oregon hotel is near many enchanting attractions such as the Oregon Caves, Crater Lake and many local vineyards with excellent wine tastings. Guests will find that there s something for everyone they re traveling with and they ll love the convenient location, as this hotel is between San Francisco and Seattle. The clean, cozy rooms at this pet friendly Oregon Best Western offer free high speed Internet access, cable satellite television with HBO, coffeemaker, hairdryer and more. While staying at this Grants Pass hotel, guest can enjoy an outdoor heated pool, hot tub, a business center, dry cleaning, complimentary continental breakfast each day and an onsite restaurant and cocktail lounge. In addition to comfortable lodging in Grants Pass, guests can also enjoy numerous activities such as jet boat excursions, white water rafting, fishing, biking, golfing, playing tennis that get them out and exploring the beautiful natural surroundings. Enjoy fresh air on the greens of one of three golf courses within seven miles of this Grants Pass, Oregon hotel. Guests also enjoy a day of fun and horse racing at the Grants Pass Downs. Visitors of this Oregon hotel can also experience the magnificent sights of Valley of the Rogue State Park, the Applegate River, Rainey Falls, Mount Ashland and the Redwood Forest all within about an hour s drive from this Oregon Best Western hotel. Conveniently located at the intersection of Highway 199 and Interstate 5, traveling to and from this Grants Pass hotel is easy and efficient. Additionally, the Medford Airport is only 25 miles away. For a great stay with phenomenal service at a charming hotel in Grants Pass, Oregon, reserve a stay online at the BEST WESTERN Grants Pass Inn NBR OF SUITES 10NBR OF NON SMOKING ROOMS 72NBR OF ROOMS FOR PHYSICALLY CHALLENGED GUESTS 4LUXURY SUITES AVAILABLE. FREE HIGH SPEED INTERNET ACCESSIN ALL ROOMS. TWO PERSON SPA/BATHTUB.ROOM AMENITIES FOR ALL ROOMS ROOM AMENITIES AIR CONDITIONING / AM/FM ALARM CLOCK / CABLE/SATELLITE TV / COFFEE/TEA MAKER / COLOR TV / DIRECT DIAL TELEPHONE / FREE LOCAL TELEPHONE CALLS / HAIRDRYER / IRON/IRONING BOARD / MEAL INCLUDED BREAKFAST / NO SMOKING ROOM / PRIVATE BATH OR SHOWER / RADIO / REMOTE CONTROL TV / STEREO SYSTEM / TELEPHONE / TELEVISION TECHNOLOGY DATAPORT / HIGH SPEED INTERNET ACCESS CHARGEABLE AMENITIES ANALOG DIAL UP DATAPORT NBR OF ROOMS 84 WIRELESS DATAPORT NBR OF ROOMS 84 |
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