How to Get a Government Business Loan
Can you acquire a straight Government Business Loan? Yes! But there are methods you need to know. Here are the facts. There is no such thing as a free lunch...
[edit] Steps
- Figure out what category your new business fits into. Your business needs to fall into a non-profit or researching New Technology to qualify for a loan from $100,000 to 1 million.
- Check the (SBA) Small Business Administration for all types of loans.
- Look at the Loan Guaranty Program. Eligibility depends on the size,type and availability of funds from other sources. SBA limits.
- Inquire about a Microloan Program. These are for a growing small business or a start-up.
- Ask about a Pre-Qualification Program. This is for the Disabled, low income borrowers and Veterans
- Can you qualify for a CDC 504 Program? This is basically for long-term
- financing used in land deals and buildings.
- Have you heard about the CAPlines Program? This is an umbrella program under the SBA. There are 5 categories: Seasonal Line, Contract Line, Builders Line, Standard Asset-Based Line and Small Asset Based Line. There are Credit lines up to $200,000.
