Stay updated, sign up for our free newsletter to receive useful tips
Full Name Email Id
Government business loans for women
It is estimated that only a small fraction of the government loans is now reaching women entrepreneurs. Some where around 8 % to 10 % of the SBA guaranteed loans are being received by them as of now. It is intended to increase this to at least 15 %.
Rate this Article
Excellent
Good
Average
Bad
Terrible
Current Rating
An intermediary helps women with the processing and completing of their loan applications. The intermediaries are invariably not for profit organizations.
Pilot loan scheme
SBA's office of women's business ownership (OWBO) has programmed a pilot loan scheme. With this SBA can guarantee women entrepreneurs' loans even before they have approached banks. Here loan applications are pre qualified and forwarded to SBA for its guaranty to banks. SBA clears its side of the procedures within 72 hours. Loans of up to $ 250,000 are issued under this scheme to those businesses which have annual revenue of less than $ 5 million.
Micro loans 7(m)
The loan extended by this SBA guaranteed scheme will not exceed $35,000. This loan is basically extended to existing business owners and is to help them with purchases of inventory, equipments etc. This is basically a kind of working capital loan. Children day care centers and other types specific to women's business qualify for this loan.
Disaster recovery loans
Disaster recovery loans for women in the hurricane hit areas. Women business owners having run the business for at least one year will qualify for this loan. SBA is processing this loan very quick and record as of now is a daily average of $ 37 million.
Other SBA loan programs
the popular SBA loan programs like the 7 (a) program, CDC 504 loan program, LowDoc and CapLine loans are always available to women small business owners. What they can do is approach an intermediary as listed by SBA for your area for appraisal of your loan application.
The minority women business loans and women small business loans schemes are not significantly different from each other. Though business loans for women have more government agencies working of late, in principle minority women business loans and minority business loans have much in common with small business loans for women. Loan amounts of even $ 5 million are not difficult to obtain if you have a sound proposal in place on how you are going to use it.
Bookmark
this Page 
Email
this to your Friend 
Add
this page to del.icio.us
Excellent
Good
Average
Bad
Terrible
Suggest an Article
