We are a "start-up" computer manufacturer corporation and looking for
a little extra income to ease the situation.  We are aware that they
are programs (ie. federal grants and loans) provided by the government
specifically for this purpose.  What are they, how do you apply, and
how long does it take to recieve funds?

We are not interested in loans from banks or any other company
specifically looking for profit or personal collateral.

If it helps, we are an african-american owned corporation.  This
includes the founders, as well as, the primary shareholders.

Please assist us in our situation, and if you need any clarification
please dont hesitate to ask.  Thanks in advance.

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Request for Question Clarification by nellie_bly-ga on 27 Oct 2002 10:21 PST

What is your location -- city, county, state?

Have you prepared a business plan?

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Clarification of Question by aieoncorp-ga on 27 Oct 2002 17:04 PST

We are located in Little Rock, Arkansas. Also We have a very detailed 
business plan that clearly maps our business objective, plans for the
future and expected income as well as other factors.

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Clarification of Question by aieoncorp-ga on 28 Oct 2002 09:42 PST

Little Rock, AR is in Pulaski County.

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Clarification of Question by aieoncorp-ga on 30 Oct 2002 11:16 PST

I have increased the amount from $10.00 to $20.00 yesterday, in hopes
of getting a speedier response.  Thank You.

<The U.S. Small Business Administration or SBA provides loans to small
businesses. There are offices in every state.

The SBA can guarantee as much as 85 percent on loans of up to $150,000
and 75 percent on loans of more than $150,000. In most cases, the
maximum guaranty is $1 million. There are higher loan limits for
International Trade, defense-dependent small firms affected by defense
reductions, and Certified Development Company loans.

The 7a loan guaranty program is the program most commonly used by
small businesses seeking finance.This provides loans to small
businesses who are unable to secure financing through normal channels.
The loans are provided by private sector lenders and guaranteed by the
SBA.

The maximum loan is $2 million. However, the SBA will only guarantee
$1 million. For loans of up to $150,000 they provide a guarantee of
50%. For loans of more than $150,000 a guarantee of 75 percent is
provided.

Conditions:
You need to be able to show that the cash flow of the business is
sufficient to repay the loan. Good character, management capability,
collateral and owner’s equity contribution are also taken into
account. Personal guarantees are required from business owners of 20
percent or more.

Interest rates are negotiated between the lender and the borrower up
to a maximum that is set by the SBA. There are also fees associated
with the loan – see the link below.

How to apply.
You need to contact a private sector lender. The vast majority of
lenders are familiar with the application procedure and will help you
to complete all the necessary forms. You can get further information
from your local branch of the SBA. The contact details are as follows:
Arkansas District Office
2120 Riverfront Drive, Suite 100
Little Rock, AR 72202-1794
Telephone: (501) 324-7162 ext 228
Fax: (501) 324-5199 or (501) 324-5491>


<Additional links.>

<SBA.>
<http://www.sba.gov/financing/>

<SBA loan programs.>
<http://www.sba.gov/financing/indexloans.html>

<SBA Arkansas District Office.>
<http://www.sba.gov/ar/aboutar.html>

<Fees.>
<http://www.sba.gov/financing/fr7aloan.html#fees>


<Search strategy.>

<sba loans>
<://www.google.com/search?hl=en&lr=&ie=ISO-8859-1&q=sba+loans>

<sba Arkansas>
<://www.google.com/search?hl=en&lr=&ie=ISO-8859-1&q=sba+arkansas>


<Hope this helps.>