SBA 7(a) Loan Program
The Small Business Administration has a 7(a) Loan Program that is designed to assist specific companies. The program is broken down into specific programs catered to companies that deal with exports to foreign countries, work from rural locations, or have other particular functions and characteristics.
Here are different loan programs and other applicable topics.
The Special Purpose Loans Program is designed to help out companies who have had to deal with the affects from the North American Free Trade Agreement (NAFTA). The loan provides money to help the Employee Stock Ownership Plans and the application of pollution control components.
The Export Loan Programs are for exporting companies who have 20 or fewer employees. The purpose of the loan is to help companies expand and develop its exporting capabilities.
The Rural Business Loans are for companies in rural areas to strengthen the local economy, provide jobs for unemployed workers and help communities who are facing challenges in regards to population loss.
The Express & Pilot Programs are for military personnel, veterans and companies from disadvantaged communities.
The Advantage Loan Initiatives are for companies, specifically entrepreneurs and small businesses, in communities that are struggling. The purpose of the loan is to bring jobs to these struggling communities and to stimulate the economic growth.
The 7(a) loan proceeds may be used for startup business along with acquisition, operation and expansion.
The Community Advantage Approved Lenders are located throughout the United States and are resources for small businesses and entrepreneurs.
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