The U.S. Small Business Administration (SBA)'s 7(a) loan program is the most popular source of small business financing backed by a federal guaranty. Loans can be approved for amounts up to $5 million, with maturity rates from 10 to 25 years, and average APR rates of 6.30%-10%. Since SBA 7(a) loans have strict requirements, a majority of small business owners do not get … [Read more...]
Finding Loans for Women Owned Businesses
Post by Amy Blais, contributing Women On Business writer If you live in the New York area, you may have seen the recent commercials about Mike Bloomberg’s Women for Bloomberg coalition campaign. Bloomberg, along with others, is focused on helping women and minority owned businesses with loans to help them grow. During tough economic times, it may feel like banks are … [Read more...]