Entrepreneurs in Frankfort can get Small Business loans. The Small Business Jobs Act of 2010 had allocated $5 million to be given to business owners operating in Frankfort county. However, there is a condition and it is the money should be loaned to businesses before August 2013.
The fund is available for small businesses in Kentucky but very few entrepreneurs really know about it. Small Businesses are found most suitable for it and they are eligible to receive benefits even down the line like the retail outlets.
Currently, Kentucky received $5 million from the treasury. But this is just a fraction of the entire amount that the State has been allocated. The entire fund granted is $15.5 million out of which $5 million is available while $10 million is down the road and yet to be received. Though Washington makes such funds available through its State Small Business Credit Initiative, yet the money is given out to businesses only through banks and private lenders.
Fed has placed just one condition for the loan support. And it is that money should be given out by August 2013. So, if there are any more terms, it is just of the lenders’ and not Feds’ as such. Under this fund, tax credits are also available to small businesses.
This article was submitted by Raj Tulshan, Director of Business Development of Biz2Credit. Biz2Credit is a small business marketplace that connects entrepreneurs with financing options and advice to grow their business. Send all questions to firstname.lastname@example.org