SBA, Government Grants for Business and Women

Most women confuse a government grant with a government loan. They are not the same. Grants do not have to be repaid BUT, you DO have to follow all the guidelines outlined for receiving a grant. If you are looking for a government loan, then you probably need to contact the SBA, Small Business Aministration. They provide guarantees to your local bank for business loans. N O T E: You MUST have good credit to qualify for these loans. IF you have BAD Credit go here for loan information.

Most Requested Item from the SBA Program Office

How do I get a small business loan?
Documentation requirements may vary; contact your lender for information you must supply. Common requirements include: purpose of the loan, history of the business, financial statements for three years (existing businesses), schedule of term debts (existing businesses), aging of accounts receivable and payable (existing businesses), projected opening-day balance sheet (new businesses), lease details, amount of investment in the business by the owner(s), projections of income, expenses and cash flow, signed personal financial statements and personal resume(s). You should take the information, including your loan proposal and submit it to a local lender. If the lender is unable to approve your loan, you may ask if the lender can consider your request under the SBA loan guaranty program. Under this program, the SBA can guaranty up to 85% of a small business loan; however, the lender must agree to loaning the money with the SBA guarantee. The lender will then forward your loan application and a credit analysis to the nearest SBA District Office. After receiving all documentation, the SBA analyzes the entire application, then makes its decision.

The process may take up to 10 days to complete. If the lender needs SBA applications and/or guidance it may contact the nearest SBA District Office by visiting http://www.sba.gov/localresources/index.html. Upon SBA approval, the lending institution closes the loan and disburses the funds. To be eligible, a business must be operated for profit and not exceed SBA's size standards. For further information and eligibility requirements, visit Contracting Opportunities.

Regional Offices, District Offices and Women's Business Centers (PDF)

2009 WOMEN'S BUSINESS CENTER (WBC) RENEWAL GRANTS
WBC 2009 Grant Announcement

FORMS AND WORKSHEETS
Cash Match and Program Income Certification Form
Budget Detail Worksheet
SF 424, SF 424A, Assurance – Non-Construction Programs (SF-424B, Revised 9/97)
Disclosure of Lobbying Activities, if applicable (SF-LLL)
Nonprofit Verification — documentation of the 501(c) certification from the U.S.
Internal Revenue Service (IRS)
CPA Certification — a signed statement by an independent CPA that the organization’s
financial management system complies with 2 C.F.R. § 215.21 215.28
(OMB Circular A-110)
Certification Regarding Debarment, Suspension, and Other Responsibility Matters,
Primary Covered Transactions (SBA Form 1623, 10/88)
Certification Regarding Lobbying (SBA Form 1711)

Quote:
"The U.S. Small Business Administration (SBA) was created in 1953 as an independent agency of the federal government to aid, counsel, assist and protect the interests of small business concerns, to preserve free competitive enterprise and to maintain and strengthen the overall economy of our nation. We recognize that small business is critical to our economic recovery and strength, to building America's future, and to helping the United States compete in today's global marketplace. Although SBA has grown and evolved in the years since it was established in 1953, the bottom line mission remains the same. The SBA helps Americans start, build and grow businesses. Through an extensive network of field offices and partnerships with public and private organizations, SBA delivers its services to people throughout the United States, Puerto Rico, the U. S. Virgin Islands and Guam."

N O T E: You MUST have good credit to qualify for these loans. IF you have BAD Credit go here for loan information.