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Getting some aid from Uncle Sam never hurts when starting a business, and there is no better place to go to for grants for small business loans than the horse’s mouth. The information you are looking for can quickly be located online and with almost no waiting time at all
Business.gov is a website run by the US Department of Labor, and it features a search tool that allows you to quickly browse your federally-aided financial options. To access this, click on the Small Business Loans and Grants link and select â€œsmall business loansâ€ from the panel on the left. This will provide you with a number of different applications and advertisements for different loan programs that the SBA, among other programs, has to offer.
If you want a quicker way to browse your options for grants for small business loans though, you can take a look at the small business grant selector by visiting the loan and grant selector. Here you can enter your business type, industry and state of location, and check all the boxes applicable to the kind of loan conditions you are looking to get. You will be directed to a search return of the grant programs for which you are most likely eligible.
You will more than likely be presented with something called a â€œMicroloanâ€ program. Microloans are federally guaranteed small financing options offered through the SBA (maximum amounts are $35,000, although the average loan size is $13,000). Microloans make excellent grants for small business loans, because their credit criteria is relatively low, and you can easily apply for more than one.
The SBA offers a number of other options as well that you will see, as well as some other federally-guaranteed programs. Take some time to browse the options that you have been presented and you will be glad that you spent time visiting this website!