How To Get A Government Loan

On these pages, you’ll find information on:

Government Small Business Loans
Small Business Loans and Financing
Other Government Financing, Loan, and Benefit Programs
Loan Forgiveness, Loan Repayment, and Debt Reduction

  • Business Loans From the U.S. Government

    Government Loans for Small, Women-Owned and Minority Businesses
    From the U.S. Small Business Administration (SBA)
    Loan Type Summary Description How You Can Use These Funds Additional Information
    7(A) Small Business Loan Program The 7(a) Loan Program includes financial help for businesses with special requirements. There are several different types of 7(A loans. They include (1)Special Purpose Loans to aid businesses that have been impacted by NAFTA, to provide financial assistance to Employee Stock Ownership Plans, and to help implement pollution control mechanisms; (2)Express and Pilot Program Loans, which provide streamlined and expedited loan procedures for active duty military personnel, veterans, and borowers from distressed communities; (3) Export Loan Programs to help existing and new small businesses develop or expand their export activities, and (4) Rural Business Loans which provide special financing to businesses located in rural communities. - Purchase land or buildings, cover new construction, expand/convert existing facilities
    - Purchase equipment, machinery, furniture, fixtures, supplies, materials
    - Long-term working capital
    - Short-term working capital
    - Financing against existing inventory and receivables
    - Refinance existing business debts
    - Purchase an existing business
    Click Here for more details.
    Loan Type Summary Description How You Can Use These Funds Additional Information
    Microloan Program The Microloan Program provides small, short-term loans to small business concerns and certain types of not-for-profit child-care centers. The SBA makes funds available to specially designated intermediary lenders, which are nonprofit community-based organizations with experience in lending as well as management and technical assistance. These intermediaries make loans to eligible borrowers. The maximum loan amount is $50,000, but the average microloan is about $13,000. Microloans can be used for working capital, purchase of inventory or supplies, purchase of furniture or fixtures, and the purchase of machinery or equipment. They cannot be used to pay existing debts or to purchase real estate. Click Here for more details.
    Loan Type Summary Description How You Can Use These Funds Additional Information
    Disaster Loans SBA provides low interest disaster loans to homeowners, renters, businesses of all sizes and private, nonprofit organizations to repair or replace real estate, personal property, machinery & equipment, inventory and business assets that have been damaged or destroyed in a declared disaster. Types of disaster loans include: Home and Business Property Loans, Business Physical Disaster Loans, Economic Injury Disaster Loans, and Military Reservists Economic Injury Loans. Business Physical Disaster Loans can be used for the repair or replacement of real property, machinery, equipment, fixtures , leasehold improvements, and inventory. An Economic Injury Disaster Loan can help businesses meet normal financial obligations that would have been met had the disaster not occurred. Military Reservisits Economic Injury Loans provide working capital needed by a small business to pay its necessary obligations until operations return to normal after the essential employee is released from active military duty. Click Here for more details.
    Loan Type Summary Description How You Can Use These Funds Additional Information
    CDC/504 Loan Program The CDC/504 loan program is a long-term financing tool, designed to encourage economic development within a community. The 504 Program accomplishes this by providing small businesses with long-term, fixed-rate financing to acquire major fixed assets for expansion or modernization. A Certified Development Company (CDC) is a private, nonprofit corporation which is set up to contribute to economic development within its community. CDCs work with SBA and private sector lenders to provide financing to small businesses, which accomplishes the goal of community economic development. 504 loans are used for fixed asset projects such as:
    - Purchase of land, including existing buildings
    - Prchase of improvements, including grading, street improvements, utilities, parking lots and landscaping
    - Construction of new facilities or modernizing, renovating or converting existing facilities
    - Purchase of long-term machinery and equipment.
    Click Here for more details.

    Small Business Loans and Financing

    You can fill out this SBA form to see if there is any type of financing available for your business.
    Here you’ll find a description of the typical items that you will need to submit for a business loan.
    This page contains a listing and decription of all of the documents you will need to apply for an SBA-guaranteed loan.
    This Inc. Magazine article is full of information and links for small business financing.
    Another article from Inc. Magazine that covers financing sources including angel investors, venture capital, government programs, private equity financing, bank loans, microloans, partnerships, and more.
    Grameen America provides micro-loans to people living below the U.S. poverty line who want to start or grow a small business.
    Common types of Small Business Loans
    These include working capital lines of credit, credit cards, equipment leasing, and letters of credit.

Leave a Reply

Your email address will not be published. Required fields are marked *

You may use these HTML tags and attributes: <a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <strike> <strong>