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            What are the advantages of SBA financing for my business? Simply put a longer term means lower payments Lower payments allow you to retain and utilize more working capital which is essential for a growing business Additionally there are no prepayment penalties on SBA loans All SBA loans are fully amortized Therefore your business will not be impacted with renewal fees interim appraisal costs or untimely balloon payments How much can I borrow? The loan amount is basically limited only by the capacity to repay it The typical small business loan amounts go to about million on Business & Industry and million for SBA What can the funds be used for? Loans can be used for virtually any legitimate business purpose Examples include Purchase real estate make improvements to your business property purchase equipment expand a business consolidate debts purchase another business construct a new facility and finance a franchise Aren't SBA guaranteed small business loans only for businesses that are not creditworthy by traditional banking standards? On the contrary SBA financing will not be extended to any business that does not demonstrate the ability to repay debts The longer terms allowed with SBA

Members Not Registered? for free extra services Search    Enterprise Business Pulse Survey   Insight SBA loan primer What biz owners need to know Business First of Columbus June by Often small business owners find they cant get the money they need to expand but the U S Small Business Administration offers financing solutions that match the profile of many local businesses The SBA provides funding to qualifying businesses that otherwise might not be able to access the financial resources they need to grow and prosper In many instances women owned firms have not had the opportunity to establish a solid credit history through borrowing from banks The SBA can help by guaranteeing major portions of its loans and that guarantee reduces risk to the banks Banks in turn are encouraged to finance these growing companies Loan options SBA loans are designed to meet the specific needs of small business owners and terms and costs are reasonable Therefore its not surprising that SBA lending has increased at a steady rate The Today's Latest News Stories powered by Wyndham Vacation Ownership Sales Employers SEARCH PRESS RELEASES Content provided by PR Newswire       Brought to you by Business Resources Sponsored by

FEBRUARY     Editions SMART ANSWERS By Karen E Klein Borrowing After Bankruptcy Even if your last business went down in a sea of red ink lenders may still be prepared to finance a new venture   STORY TOOLS   PEOPLE SEARCH Search for business contacts Search by job title geography and build a list of executive contacts Q My business was forced to file bankruptcy last year We'd like to make a new start buy equipment and pursue larger advertising Can we get an SBA loan? If not will I ever be able to get one in the future? Do I have other options? T E Cincinnati A A bankruptcy particularly a recent one is definitely going to be counted against your business when a bank evaluates your credit worthiness on a loan application Unfortunately the mark stays on your record for years Nonetheless it may not be impossible for your company to get a new loan experts say particularly if you are willing to pay higher interest rates and put up substantial assets as collateral TANGIBLE ASSETS   The Small Business Administration does not make loans directly but it does guarantee loans for small business owners through banks or other

WEST PARRISH STREET DURHAM NC   © NCIMED ALL RIGHTS RESERVED         FREQUENTLY ASKED QUESTIONSWhat services does the WBC of NC offer?The Women's Business Center of NC is specifically designed to provide opportunities and tools to help women entrepreneurs achieve their business goals The organization provides one on one counseling workshops and seminars business plan development assistance financing assistance including loan packaging and networking opportunities Also offered to clients is access to the WBC business library and resource center and computer usage including Internet access Does the SBA have grant or loan money available to start my business? There is no federal grant money for individual business owners Even though many publications and talk shows publicize grants to small businesses the only grants available are for non profit women's business centers that provide training for women who want to start or expand their businesses The other grant program is for research and development for technology based products and services for the government However the SBA has an excellent financial assistance program which encourages bankers to help small businesses This loan guaranty program is the agency's priority Apply for a business loan at your bank If financing is

    Q   What is the Northwest Texas Small Business Development Center ? A The Northwest Texas Small Business Development Center is the premier small business resource for the South Plains with sub centers in Amarillo Lubbock Stephenville Abilene Odessa and Wichita Falls The friendly staff at your local SBDC are highly trained and willing to go the extra mile to provide the best in service and assistance to the local community   Q What is a small business? A A small business size standard is a threshold measured either in number of employees or by average annual receipts depending upon the industry Each SIC code has a small business size standard assigned to it Businesses that meet or fall below the assigned size standard for a particular industry are considered to be a small business for that particular industry Generally a business is considered to be small if it has no more than employees   Q What is a SBA loan and how do I get one? A A SBA loan is a loan that has been guaranteed by the U S Small Business Administration The guarantee assures the lender that it will be repaid a portion of



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