Government loans ect.....

I tried filing for an SBA in the beginning of the year but no go. They denied me for being a start up company. There were some other banks willing to refile for me but they wanted a DNA sample and the rights to my 1st born son. I said no thanks, I'm too impatient for all that... plus I kinda felt like having to do all that I was begging for money and I got "man" pride on things of that nature.

 

NOW YOU DO IN FACT QUALIFY, in perticular if its your wife filling for the loan , however it is extereamly complicated as with anything with the goverment envolved and a long process.

just read an artical on the subject yesterday and it stated that out of all the money alocated to the sba only 20% has been used and aparently nobody can find out why, thats typical of our goverment at work.

good luck to you my friend.-----southernpride

 

I read an article in Landline about this. Seems there is no money to be made when dealing with the ARC loan deal with the government that is why lenders aren't using them. Too much trouble for a 25,000 loan. But in the article it did say they are some lenders in California participating in it so you might call around.

http://www.landlinemag.com/Special_Reports/2009/July09/070209-01.htm


http://www.landlinemag.com/Special_Reports/2009/Aug09/080709-ll-investigation2.htm

These are look to be the recent articles i read in the magazine there is more you can go to there website and search for SBA.

 

Do yous really want to let the Government ave any more control over your business than they already have???,.........

 

I would hate see what else they could do to regulate this industry,....But we all know that they are going to try,....

 

Put a Federal DOT in the truck with you to log you every move and tell you you have to pay his salary

 

The loan is not from the government on SBA loans. The bank loans the money, the SBA (government) guaranties the bank for 70% of the loan amount if you default to the bank.

 

Accually its up to 85% but you will waste you time I tried for 5 months. In the beginning SBA was going to back it Banks dont like loaning money they can only collect 5.25 to 6% interest on a couple told me they was keeping their money for current customers or even with the SBA backing they want you to put up 35 - 40% and the day Arrow went south SBA told me they was not backing any loans for the trucking industry because it was to high risk