SBA loan workshops available in April

Steve Gonzalez Apr. 3, 2008, 3:31am

Businesses in the Edwardsville and Granite City areas are invited to attend informational workshops regarding the U.S. Government's SBA loan programs.

The next workshop will be on April 9 from 10 a.m. to noon at First Bank, 2200 Troy Road, Edwardsville, and on April 10 from 1 to 3 p.m. at First Bank, 3600 Nameoki Road, Granite City. Weekly workshops will be held throughout April.

Participants will receive training, handouts, guides, and applications for various SBA guarantee loan programs.

The U.S. Small Business Administration has been a key resource for small businesses since 1954. Small businesses create 60 to 80 percent of all new jobs in America. The SBA loan programs are designed to help support the efforts of these businesses.

SBA loans may be used to finance working capital, start-up businesses, the purchase of an existing business, construction of an operational location, and other purposes.

They may not be used for speculative investment purposes. SBA guaranteed loans range in size from smaller amounts such as $50,000 to over $1 million. Although businesses must be able to earn enough income repay the loans, SBA programs may assist in reducing collateral requirements and cash for the down payment.

For more information, contact Susan Young, CPA, commercial loan officer at (618) 692-4300.

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