Fund My Business Inc., a nationwide SBA loan packaging and consulting firm, announced today a new outreach program to help minority owned business in the black and brown communities receive new funding from the $30 billion SBA loan guarantee program.
Effective January 1st, 2014 the United States Small Business Administration (SBA) approved new guidelines and qualifying requirements that make it easier to qualify and more businesses are eligible.
About the Small Business Administration
A small business is now defined as earning less than $5 million per year of net income and owning less than $15 million in net assets. Under these new alternative size standards financing is available from $50,000 up to $14 million. The funds can be used for working capital, equipment, inventory ,debt restructure marketing, payroll, building purchases with as little as 10% down payment, for franchises and new start ups.
For loan requests from $50,000 up to $350,000 the Small Loan Advantage loan is available and offers a streamlined application process and faster approvals. More information can be found on their website at FundMyBusiness.biz . A program unique to black owned veterinarians, dentist and medical practices is a 100% financing program that allows you to buy your own building or a practice with zero down payment up to $5 million.
About Fund My Business Inc.
Fund My Business Inc. is a California corporation and is headquartered in Los Angeles, CA. They are state approved SBA finance instructors and have access to SBA preferred lending providers that can provide funding to businesses in all 50 states and the territories. It does not matter where your business is located or where you bank. The SBA is a federal program and is the same in all 50 states. Howard Eley (pictured above) is a national recruiter for the company.
For more information, please visit www.fundmybusiness.biz/heley
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