Georgia small businesses received real boost with half a billion dollars loans granted under the SBA programs. Benefitting hundreds of businesses operating in Georgia. The onus of it goes to the Small Business Administration Program that offers 90% guarantee for loans and have cut down on fees.
The availability of funds has led to the success of new businesses and banks. Nationally SBA-backed loans have increased to 10-billion dollars from October to December. Three month extension of guarantee fee waiver and enhanced coverage has been guaranteed by the Small Business Jobs Act.
In this tough time, it is important to be prepared for any circumstance when getting started with a business. To be smart with every aspect of the business is essential. And the need to have money while starting a business is the greatest. Several banks are willing to lend start-up capital to new businesses under SBA program.
Community banks are formed for this reason to provide start-up loans and help businesses flourish and create positive vibes in the community. There are many such community banks that offer SBA loans. Such banks have found loan lending to become easier when the SBA guarantees have increased to 90% of them and guarantee fees have been waived.
This article was submitted by Rohit Arora, co-founder of Biz2Credit. Biz2Credit is a small business marketplace that connects entrepreneurs with financing options and advice to grow their business. Send all questions to