Tuesday, April 6, 2010

Is Your Business Having Problems Getting A Loan?

In one state there were so many complaints from owners who could not get bank loans, that someone decided to start a new small-business loan program. The program is administered by the local council and uses county funds and a $5 million line of credit.

The program is aimed at owners who want to purchase land, machinery, equipment or buildings but do not have adequate income or net worth to qualify for conventional bank loans. The maximum loan is $500,000, and in the few weeks since the program was announced more than 100 owners have already applied for the funding!

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