Raleigh Business loans
QUESTIONS ANSWERED...

Need a small business loan or line of credit?

 

 

Answer...

Anyone remotely involved with small businesses, whether as a consultant, lender, supplier, leasing specialist, trade association, or simply as a consumer who is tired of driving by sections of town and wondering why your favorite business unceremoniously threw in the towel, would very much like to hear some good news. Not to mention the small business owner itself. After all, there are 27 million small businesses that deserve to be thriving in this nation, but too often were ignored by the Bush administration. Classically non-complainers by nature, they just want a scrap of hope thrown their way. And I'm not talking about wide-eyed idealists looking for handouts-in all due respect to Emily Dickinson, they're not looking for the"thing with feathers that perches in the soul". Just give us a few bucks and we will run with it. This is a continuing article (20 in all) on the subject: Help. Is anyone out there loaning to small businesses anymore?

Do you know about the small business loan guarantee?

Answer...

SBA loan programs have guarantees from 50% to 85%. Specifically, the SBA currently has an 85% guarantee on loans up to $150,000 and upo 75% on loans above $150,000. On the other hand, there are some programs that only go as high as 50%, including the Express Loan pro tgram (for those types of loans the new guarantee will not change). With the new stimulus bill, the SBA has the right to increase these fees to 90%.