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Re: Minorities have the rug rolled out at the SBA
Chapman, Spira & Carson - Disscusion

From: Minority Pre-Qualification Loan Program
Date: 4/30/99
Time: 7:25:04 AM
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If you are a minority as defined by the SBA, a African Americans, Hispanic Americans, Native Americans, Asian Pacific Americans and Subcontinent Asian Americans you will be able to get special treatment from the Minority Pre-Qualification Loan Program. Chapman Spira and Carson LLC

SBA's Pre-Qualification Loan Program: Helping Minority Businesses

After a successful launch of the Women’s Pre-Qualification Loan Program, the U.S. Small Business Administration (SBA) has named several Small Business Development Centers in the North Florida SBA District area as intermediaries for the Minority Pre-Qualification Loan Program. The minority loan program was developed to promote the SBA’s business loan program to current and prospective minority small business owners. Loans under this program can be made up to $250,000.

The SBA defines minority businesses as those owned by African Americans, Hispanic Americans, Native Americans, Asian Pacific Americans and Subcontinent Asian Americans. It also provides specialized support and assistance with the intermediary to assist minorities in developing a viable loan application package. That application can be submitted directly to the SBA for consideration of a loan pre-qualification. Upon approval, the intermediary can assist the applicant in locating a competitive lender.

As a result of the Women’s Pre-Qualification Loan Program and the assistance provided by the SBDC-s at Daytona Beach Community College, the University of North Florida, and Gulf Coast Community College (GCCC), a total of six women-owned businesses have been approved for loans from $28,000 to $250,000 so far in 1998. The GCCC SBDC also completed a minority loan package, which resulted in a $250,000 loan.

Small business owners and entrepreneurs who would like additional information about these programs should contact the SBDC in their area or the North Florida SBA District Office in Jacksonville. $$$


Last changed: September 26, 1999