Małe firmy · 22.01.2001

SBA Minority Contractors Finance Pilot Loan Program

The Small Business Administration (SBA) is establishing a pilot program in which certain lenders will be permitted to use their own documentation forms to expeditiously approve loan amounts up to $250,000 for small business contractors and subcontractors in Rhode Island using the Section 7(a) loan program. The program will offer a technical assistance component provided by a Small Business Development Center (SBDC) and additional guaranty support from non-SBA sources for a lower risk exposure that is attractive to lenders and other modifications to SBA's normal lending practices and procedures. This program will be called the SBA Minority Contractors Finance Pilot Loan Program. The purpose for this 18-month pilot program is to address the difficulties that small business contractors and subcontractors generally experience with access to capital and bonding. This loan pilot program is a key part of an initiative that will first operate in Rhode Island and, may be expanded to other areas of the country.