|
|
Finance - Are Loans Needed?
Banks Are Not a Source of Start-up Loans
Banks Are Not a Source of Start-up Loans
- Must have track record of profitable operation
- Reasonable amount of owner equity required
- Must be matached with other financial assets
- New businesses eligible to apply.
- Maximum loan amount is typically $35,000, the average loan is approximately $10,000.
- Borrowers must typically enroll in technical assistance classes
- Sponsored by SBA and assorted nonprofits