Government Small Business Loans
Government Small Business Loans
If you’ve tried your luck with angel and private venture investors but haven’t had any success, then these types of loans might be the better ones for you. In the U.S., the federal government’s Small Business Administration program has been helping entrepreneurs get their businesses off the ground and running for decades. In 2003, the SBA announced a $1.4 billion increase in the amount of loans it would give out to small business owners in that year. Over the past 50 years, the SBA has provided more than $30 billion in loans to over 20 million entrepreneurs in need of some extra venture capital.
For those of you who have avoided going to the government in the past because you worried about the amount of red tape you’ll have to go through, don’t let that stop you. The government might have a bad reputation when it comes to bureaucratic slow down, but there are such things as express loans. Entrepreneurs who are in need of immediate funding can apply for loans, have their request processed, and have the money in their hands in no more than a few weeks.
Government small business loans vary in amount depending on your business and the amount that you – and they – deem necessary. They can be as low as a few thousand dollars to over $3 million.
In Canada, the government also has an extensive program to help entrepreneurs get on their feet. Whether you want to get some new equipment for your business, train your employees, hire new ones, or carry out an advertising campaign, the Canadian government has set aside more than $120 billion to finance small businesses like yours. You might even be eligible for a free one-time or renewable grant instead of a loan.
The federal Canadian government currently has 39 different grant and subsidy programs available, while there are 57 programs at the provincial level. If it’s low-interest or no-interest loans you’re interested in, you’ll have 83 federal and 82 provincial programs to choose from. Together, they offer between $1,500-$10 million worth of funding.
Government small business loans can be a lifesaver for entrepreneurs who find themselves eligible for the programs. But don’t just think about government help in terms of dollar signs. There are many government services you can take advantage of, for instance in terms of training that have tremendous monetary value for your business but don’t necessarily come in cash form. For more information, check out both the U.S. and Canadian government websites. The more you do your homework, the more likely you are to find the funds you need to succeed.
Government Small Business Loans - To learn more about this author, visit Richard Matheson's Website.
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Whether you run a beauty salon, a car repair shop, a dance studio, a pet spa, or an accounting firm, you don’t have to get through the ups and down of the corporate world alone. Government small business loans are available to entrepreneurs who, as the name suggests, run their own small business ventures and are in need of some capital to give them the boost they need to take them to the next level.
If you’ve tried your luck with angel and private venture investors but haven’t had any success, then these types of loans might be the better ones for you. In the U.S., the federal government’s Small Business Administration program has been helping entrepreneurs get their businesses off the ground and running for decades. In 2003, the SBA announced a $1.4 billion increase in the amount of loans it would give out to small business owners in that year. Over the past 50 years, the SBA has provided more than $30 billion in loans to over 20 million entrepreneurs in need of some extra venture capital.
For those of you who have avoided going to the government in the past because you worried about the amount of red tape you’ll have to go through, don’t let that stop you. The government might have a bad reputation when it comes to bureaucratic slow down, but there are such things as express loans. Entrepreneurs who are in need of immediate funding can apply for loans, have their request processed, and have the money in their hands in no more than a few weeks.
Government small business loans vary in amount depending on your business and the amount that you – and they – deem necessary. They can be as low as a few thousand dollars to over $3 million.
In Canada, the government also has an extensive program to help entrepreneurs get on their feet. Whether you want to get some new equipment for your business, train your employees, hire new ones, or carry out an advertising campaign, the Canadian government has set aside more than $120 billion to finance small businesses like yours. You might even be eligible for a free one-time or renewable grant instead of a loan.
The federal Canadian government currently has 39 different grant and subsidy programs available, while there are 57 programs at the provincial level. If it’s low-interest or no-interest loans you’re interested in, you’ll have 83 federal and 82 provincial programs to choose from. Together, they offer between $1,500-$10 million worth of funding.
Government small business loans can be a lifesaver for entrepreneurs who find themselves eligible for the programs. But don’t just think about government help in terms of dollar signs. There are many government services you can take advantage of, for instance in terms of training that have tremendous monetary value for your business but don’t necessarily come in cash form. For more information, check out both the U.S. and Canadian government websites. The more you do your homework, the more likely you are to find the funds you need to succeed.
Government Small Business Loans - To learn more about this author, visit Richard Matheson's Website.
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Referances to developing a Business Plan was simplistic, great suggestions on developing a Loan Package, grant souces and a simple checklist for the Loan Package.
I will refer to this page often
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