Loans up to ,000 at prime + 2.0% (currently 5.25%) but the government pays all of the interest so they are interest free for the borrower.
A six month draw and then twelve month deferment on payments (that means no payment by the borrower for 18 months while the government is paying interest.
A five year repayment with a 100% guarantee to lenders from the SBA. (if the borrower defaults the government will pay the lender 100% of what is due).
The SBA expects most of these loans to default.
These will go only to approved business types (no casinos or strip clubs) and only for approved purposes (hopefully to save the small business).
When starting a new company, where can the new business owner apply for initial capital?
I would like to learn from other’s people experience (established new business owners) where did they get the money for their first year of business (replacing my previous employee salary and hoping for possible 1-2 projects in the first year of operating). My business is currently home based and it employs only myself.
The Internet is full with these ”apply for government grants” promotions but from what I read it’s mainly a scam. More conservative options I read are applying to a loan backed by the SBA or maybe American Express.
My partners and I just formed a small business LLC company that is going to be specialized in Information Technology consulting for the local and federal government as well as the private sector. However, there’s a need to get a business loan to be able to execute the first subcontracting or prime contracting oppurtunity that comes our way. Most banks don’t give more than 100K and SBA don’t offer must except grants around 5-10K. Please, is there any other organizations out there that can give business loans at great rates with loans ranges from 50K-200K. All the partners are US citizens and we all have good credits. We are just not such how to go about this.
Your courteous response will be appreciated.
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Please give me a step-by-step account of how to start a business based in the state of Florida and can operate in all 67 counties. The business in question is a combined land clearing and leveling AND logging company. Also, I need all the advice on securing startup capital (and how to get business loans guaranteed by the SBA), how to get it as a certified woman-owned business, how to get government contracts, how to establish business credit, how to transform this startup into a thriving corporation, and whatever else is necessary.
Every practical lead and advice is greatly appreciated. Thank you in advance.
I sincerely apologize for not specifying what legal structure I wish to set the business up.I wish to set the business up as a privately-held corporation. Thank you in advance.
I want to incorporate as a S corporation.
which come from the federal government?
The government uses tax payer money to fund the SBA which loans money to start businesses.
How is this not Socialism?
And republican, free market types, please don’t just try to tap dance your way out of this question.
I hear so many times that there are hundreds of different Government or Private Org small business grants for women but have yet to find a legitimate grant or website that is offering grants. And NO the SBA does-not offer grants for New business for women, they offer loans as do regular banks that I could just go to if it were an option. Where are these legitimate grants at??? Thank you for serious answers-
Before a women applies for grants when starting a business, be sure to check state or local certification requirements and be aware that women-owned businesses might be eligible for a disabled business enterprise. Understand the certification process women may have to go through to start a new business with tips from acertified public accountant in this free video on new business financing. Expert: Amber Hill Bio: Amber Hill is a certified public accountant and a partner in several small businesses that she started from the ground up. Filmmaker: Carlye Jones
