Читать книгу Starting and Running Your Own Martial Arts School онлайн

34 страница из 75

Government Loans

Another possible source of funding is government loans. Government loans come in two kinds: guaranteed loans and direct loans. Guaranteed loans are loans made by commercial lending institutions backed by a government loan loss guarantee. In other words, the government program functions something like a cosigner. Direct loans are loans made by the government, typically to members of a specific group or for specific purposes.

The SBA loan program offers guaranteed loans. The SBA has a congressionally mandated program whose purpose is helping small businesses gain financing. Most SBA loans are made through the 7(a) Loan Guaranty Program. These government-guaranteed loans are made by banks and other lending institutions. The average SBA loan is for 50 to 75 percent of the start-up costs of a small business, typically around $175,000. The average maturity is about eight years. The SBA also offers a “MicroLoan” program, in which the amount borrowed is less than $10,000 and the repayment period is less than six years. Sometimes (but not always) these loans have a higher interest rate than what the bank offers. Usually, however, they have fewer qualification requirements than the bank’s conventional loans. If you don’t qualify for a loan directly from a bank, you may be able to qualify for an SBA loan.