"$1,000,000 For Companies Hurt by Defense Cuts"

Business Details: "This Program provides financial help to small defense-dependent firms that have been affected adversely by defense cuts that have diversified into the commercial market. The loans are from banks but the SBA guarantees payment to the bank. Loans are guaranteed up to 80%. Loans must be used to retain jobs of defense workers, create new jobs in impacted communities, or expand in order to remain national technical and industrial based. Loans may be used for working capital, acquisition of equipment, raw materials, inventory, and capital improvements that may include renovation and replacement of the applicant's physical plant. Maximum financing available is $1.25 million. Used in accordance with the 7(a) or 504 loans and/or other SBA loans. Terms for 504 loan pegged to and increment above current market prime rate and for 5-10 year U.S. treasury issue. Terms for 7(a) are 5-10 years for fixed assets. Contact SBA to be directed to compatible lender. Applications available online at: {www.sba.gov/library/forms.html}. Contact the SBA office below to be directed to compatible lender. U.S. Small Business Administration, Baltimore District, Office SBA, Frances Hensen, Chief, Finance Division, City Crescent Building, 6th Floor, 10 S. Howard Street, Baltimore, MD 21201; 410-962-4392; Fax: 410-962-1805; {Frances.Henson@sba.gov}; {www.sba.gov/financing/frdelta.html}."

Grant URL: http://sba.gov

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