The Small Business Administration (SBA) is an independent agency of the Federal Government,
Even if you have been turned down by your local bank, a SBA lender may be able to help you. Many SBA lenders will give special consideration to minority and/or women owned businesses. You will still need to meet the credit criteria. These are loans not grants.
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Borrowing money has never been easy for many small businesses, especially when they’re in the startup stage. It’s gotten even tougher in the aftermath of the mortgage and credit crisis, with lenders more worried about taking on the risks associated with business loans.
Glen Boehmer has owned a printing company for more than 20 years, and taken out a number of mortgages and lines of credit over the years. His company, Sentinel Printing Co., in Hempstead, N.Y., has a good track record but he said of his latest trip to the bank, "it’s been a challenge this time."
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