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SBA rule change could improve funding access for entrepreneurs

April 22, 2014 /

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The MDT Disadvantaged Business Enterprise (DBE) Program encourages and supports the participation of companies owned and controlled by socially and economically disadvantaged individuals in transportation contracts.

The SBA has published a final rule on the Federal Register that eliminated or revised several requirements for its 7(a) and 504 loan programs. The changes, which take effect on Monday, remove the personal resource test for 7(a) loans and the nine-month rule for the 504 loan program.

The 7(a) loans are the most common SBA funding products and considered the most flexible. The program offers up to 25-year, fully amortized loans that may be used for most business purposes, including purchasing real estate and equipment or providing working capital.

By Jasen Lee, Deseret News

Full Story: http://www.deseretnews.com/article/865601478/SBA-rule-change-could-improve-funding-access-for-entrepreneurs.html

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SBA 504 Loans offered statewide! Real estate and equipment, acquisitions, renovation, and new construction. Low, fixed-rates up to 25 years with as little as 10% down.

Big Sky Commerce is an integrated provider of merchant credit card transaction processing services, check processing services, Internet payment gateways, related software application products and value-added services.

Prospera helps businesses and communities find their pathway to success, acting as the navigator, problem solver and catalyst for a strong Montana economy.
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