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SMALL BUSINESS NEWS

22 July 2012

 

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The California Small Business Loan Guarantee Program

Having problems getting a loan for your small business, check out the California Small Business Loan Guarantee Program.

The program is designed to help small business owners who are having problems getting a loan through the normal process or do not have a favorable credit history.      

To be eligible the business must be located in California and be classified as a small business.

The loan can be used for any purpose such as hiring new employees, buying new equipment, expanding into a new facility, etc.

Loans can be in the amount of up to $500,000.  Interest is negotiated between the borrower and the lender.  The loan term may be extended up to 7 years.

Processing takes 3-5 weeks.  Collateral may be required.

Click here to access the program

Sources:
California Business, Transportation & Housing Agency


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