Small Business Administration announced Dec. 8 that federal Economic Injury Disaster Loans are available to small businesses, small agricultural cooperatives, small businesses engaged in aquaculture and most private nonprofit organizations located in South Carolina as a result of the excessive rain and flooding that began on Oct. 1, 2015. The SBAs disaster declaration includes the following counties: Abbeville, Anderson, Cherokee, Chester, Fairfield, Greenville, Laurens, Newberry, Oconee, Pickens, Spartanburg, Union and York in South Carolina. When the Secretary of Agriculture issues a disaster declaration to help farmers recover from damages and losses to crops, the Small Business Administration issues a declaration to eligible entities affected by the same disaster, said Frank Skaggs, director of SBAs Field Operations Center East in Atlanta. Under this declaration, the SBAs Economic Injury Disaster Loan program is available to eligible farm-related and nonfarm-related entities that suffered financial losses as a direct result of this disaster. With the exception of aquaculture enterprises, SBA cannot provide disaster loans to agricultural producers, farmers or ranchers. The loan amount can be up to $2 million with interest rates of 2.625 percent for private nonprofit organizations and 4 percent for small businesses, with terms up to 30 years. The SBA determines eligibility based on the size of the applicant, type of activity and its financial resources.
First and foremost is the business profile – discussing the nature of business, annual sales, length and time of business ownership. One of the most valuable resources available through the SBA and other localized small business resource organizations, is mentor ship programs – this first-hand assistance and knowledge directly from fellow local and successful small business owners is unparalleled, and best of all – free! With so many people applying for business loans, you must be wondering how many of them actually get them. There may be one source of financing, however, that will remain plentiful and accessible even in tough times: the business credit card. To apply for a good credit unsecured loan you can separate your personal and business accounts. To apply for a loan you must be in employment and have a bank account with a check book. The credit card will bring women into the process of credit rating which is very crucial in availing woman business loans. Take it as a test where you have to get the best grade.
And Don’t Waste Too Much Time In Settling On The Option.
Direct.oans are convenient, flexible and simple. There are two categories of personal loans: secured personal loans and unsecured personal loans – See individual titles below. The loan can be used for any purpose, and is available to anyone who owns their home. The SBA has existed since 1953, and in that time it has assisted tens of thousands of Americans form small businesses through their outreach programs, now available in every U.S. state, the territories of Puerto Rico and the Virgin Islands, and the District of Columbia Washington D.C. . Each loan has different features; you can find the loan you are looking for from the vast number of loans offered by lenders.