SBA to Foster Small Business Growth in America's Heartland with New Loan Service
| September 29, 2007 |  View for printing |
SBA to Foster Small Business Growth in America's Heartland with New Loan Service
Today the U.S. Small Business Administration announced a new loan service designed to spur economic growth in America's heartland by encouraging community banks and credit unions to finance small businesses and entrepreneurs with SBA resources. Rural Lender Advantage is part of a broader SBA initiative to boost economies in regions that face unique challenges due to factors including population loss or high unemployment rates. Part of the agency's popular 7(a) loan program, Rural Lender Advantage enables smaller, rural lenders a partnership with SBA by requiring less paperwork and offering services online.
"America's heartland is essential to the nation's economy, so SBA is committed to encouraging entrepreneurship and generating job growth in rural regions," SBA Administrator Steve Preston said. "Rural Lender Advantage is the result of listening to our friends in the rural small business community and developing a service tailored to their needs. I am pleased to announce that we will test the new service in six states and hope to expand it in the future."
Full Story: http://sev.prnewswire.com/banking-fi ... 2007-1.html
The key features of Rural Lender Advantage include: 
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