Women’s Pre-Qualified Loans Cut Down On Banker Stress

Need help filling out your loan application package? The Women’s Pre-Qualification Pilot Loan Program was developed to promote the Small Business Administration’s business loan programs to current and prospective women small business owners. It also provides specialized support and assistance with the agency’s loan application process. This program uses nonprofit organizations as intermediaries to assist prospective women borrowers in developing a viable loan application package. The program focuses on the applicant’s character, credit, experience, and reliability – not just her assets. Eligible businesses must be at least 51 percent owned, operated, and managed by women. The loan guarantee is for $250,000 or less. The application can be submitted directly to the Small Business Administration for expedited consideration of a loan pre-qualification. Currently, this program is available in 16 states. For more information on this program, you may contact your local Small Business Administration Office, or Office of Women’s Business Ownership, U.S. Small Business Administration, 409 3rd St., SW, Washington, DC 20416; 202-205-6673; 800-8-ASK-SBA; {www.sba.gov}.

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