Uncle Sam's Money and How to Get a Micro Loan

 by: Rebecca Game

The US Governement has a MicroLoan Program that provides small loans to new start-up companies, newly established businesses, or loans to help small business growth concerns.

Under this government loan program the Small Business Administration, (SBA) will make funds available to nonprofit community based lenders (also known as intermediaries) which, in turn will make loans available to eligible borrowers in amounts of up to $35,000.

You will submit your application to a local intermediary and then all the credit decisions are made at a local level.

Terms:

You can get a micro loan for a maximum term of 6 years. The loan terms will vary according to how much you are borrowing, what you are using the loan for, and your needs as a small business owner.

Interest Rates:

The interest rates on your loan will vary according to the intermediary lender and also the costs involved from the US Treasury.

Collateral:

Although collateral is not always required, each intermediary will have its own credit requirements. If you are a business owner in need of a loan, be prepared to offer some sort of callateral as a personal guarantee from you as the business owner.   (continued...)

Uncle Sam's Money and How to Get a Micro Loan
  Page 2

About The Author

Rebecca Game is the founder of Digital Women, an online community for women in business. A 30 year entrepreneur and dedicated to helping other women find grants and loans. Visit her site: http://www.digital-women.com Grants for Women.




Additional Government Grants Resources


Construction Incentive Program for First Time Home Buyers in New York
Under the State of New York Mortgage Agency, the Construction Incentive Program has been established. The goal of this program is to enable the construction of one and two family homes through the provision of funds, up to 97% of the value of the property, to eligible low to moderate income first time home buyers.


Financial Aid for Students - The Role of the Federal Student Aid Office
The Federal Student Aid Office makes sure that eligible students get to benefit from financial assistance to complete an education beyond high school. The Office plays a vital role in the entire financial aid process and has an active role in ensuring that students have access to all the information they need when requesting federal assistance to attend college.


National Institutes of Health: Expanding the Encyclopedia of DNA Elements in Human and Model Organisms
The National Institutes of Health, in cooperation with the National Human Genome Research Institute, has established a funding opportunity to support the Expanding the Encyclopedia of DNA Elements in Human and Model Organisms project.


How to Get Free Money to Save for Your Child's College Education
Did you know that a college educated person will earn 2.5 times more over a lifetime than someone without a post secondary education? College educated people are more likely to keep their jobs when ...


Construction Incentive Program for First Time Home Buyers in New York
The State of New York cares so much about its people. It looks out for them and constantly ascertains that their best interest is always protected. One of the ways in which the state has manifested this concern is through the establishment of the State of New York Mortgage Agency, more commonly referred to as SONYMA, which is a public authority established in 1970 designed to provide reasonable and affordable home-ownership opportunities to low and moderate income New Yorkers, especially to first time home buyers.


Project to Combat Rural Exploitative Child Labor In Peru
The Office of the Assistant Secretary for Administration and Management has established another funding opportunity to support the Project to Combat Rural Exploitative Child Labor In Peru.


9th Annual P3 Awards: A National Student Design Competition for Sustainability Focusing on People, Prosperity and the Planet
The National Student Design Competition for Sustainability Focusing on People, Prosperity and the Planet program revolves around the notion of seeking applications and proposals that aim to conduct research studies, develop and design strategies that would address real world challenges throughout the overall sustainability of human society.





In the world of social enterprises, failure is a cringe-worthy moment nobody wants to talk about. But, social entrepreneurs can benefit from their failures.






More Federal Domestic Assistance Programs


Capacity Building for Non-Land Grant Colleges of Agriculture (NLGCA) | Public Health Traineeships | Economic High-Tech and Cyber Crime Prevention | Public Television Station Digital Transition Grant Program | Copyright Service |  Site Style by YAML | Grants.gov | Grants | Grants News | Sitemap | Privacy Policy


Edited by: Michael Saunders

© 2004-2025 Copyright Michael Saunders