I think they are still working out the rules and regs on that loan program. I think the intent is to help existing SBA loan customers wih a loan for up to 6 months payments with the repayment for the new loan beginning in 12 months.   I would keep an eye on www.sba.gov/banking and see what is posted on it in the next few days.

According to the SBA ... 'Microloan intermediaries across the country are providing loans of up to $35,000 right now to start-up, newly established and growing small businesses.' See the SBA List of Microloan Intermediaries to find one in your area.

According to the SBA ... 'Microloan intermediaries across the country are providing loans of up to $35,000 right now to start-up, newly established and growing small businesses.' See the SBA List of Microloan Intermediaries to find one in your area.

As has been stated, the program details are still being constructed. However, there are some criteria that was in the legislation you should know. First, you would not qualify if you had an SBA loan on or before the date the legislation was signed (2/17/09) and you want to use the $35,000 to make payments on that loan. Also, the word 'viable' is used a condition of the business & that is very undefined as of know. We have posted information, including the link to the SBA's webchat from last week, about the program on our website. http://www.businessborrowersalliance.org Neal Gordon Business Borrowers Alliance Message Edited by ngordon on 03-25-2009 07:00 AM Message Edited by NicoleD on 06-19-2009 12:48 PM

Might be other ways to get your company $35K - instead of waiting for the government.

As has been stated, the program details are still being constructed. However, there are some criteria that was in the legislation you should know. First, you would not qualify if you had an SBA loan on or before the date the legislation was signed (2/17/09) and you want to use the $35,000 to make payments on that loan. Also, the word 'viable' is used a condition of the business & that is very undefined as of know. We have posted information, including the link to the SBA's webchat from last week, about the program on our website. http://www.businessborrowersalliance.org Neal Gordon Business Borrowers Alliance Message Edited by ngordon on 03-25-2009 07:00 AM Message Edited by NicoleD on 06-19-2009 12:48 PM

Might be other ways to get your company $35K - instead of waiting for the government.

I think they are still working out the rules and regs on that loan program. I think the intent is to help existing SBA loan customers wih a loan for up to 6 months payments with the repayment for the new loan beginning in 12 months.   I would keep an eye on www.sba.gov/banking and see what is posted on it in the next few days.