Government Small Business Loans

Government small business loans are available to entrepreneurs with small business ventures in need of start up capital. Based on the business, a loan might be better suited than grants, venture funds or venture investors. All types of small businesses are eligible for government small business loans-greeting cards and gifts, embroidery, pet supplies, dance studios, accounting, brokerage, entertainment, design, photography, painting, consulting, restaurants and catering, appliance repair, beauty salon/products, and real estate, for example.

Government small business loans are a viable option for seeking start-up money, as opposed to angel and private venture investors, and venture funds.

According to the SBA and the IRS, there were between 23 and 26 million small businesses in the US in 2002, which created about 75% of new jobs over the past many years, proving the importance of small businesses in the country’s economy.

The U.S. Government works with many lending institutions to provide loans and venture capital financing to small businesses unable to secure financing money through other lending channels, such as investors and venture capital funds.

Federal Government programs, such as the Small Business Administration, have been aiding small businesses in the US for decades.

The U.S. Small Business Adminstration (SBA) announced a 1.4 billion dollar loan increase to small businesses for 2003. The SBA has provided over $30 billion in loans for more than 20 million small business owners within the past 50 years.

Many government small business loan programs offer express loans for those in need of immediate funds. These loans can be processed and closed within just a few weeks.

Loans vary in the amount of money given based on varying financial needs-loans can range from below $50,000 to over $3 million.