SBA workshop in Martin on Thursday
Posted: Wednesday, January 19, 2011 6:01 pm
The Small Business Development Center will host a loan workshop enabling entrepreneurs and small business owners to apply for SBA-backed loans on the spot. The Community Express and Patriot Express Loan Workshop is set for 10 a.m.-noon, Jan. 20, at the University of Tennessee at Martin Regional Entrepreneurship and Economic Development Center. The workshop will be presented by Superior Financial Group, SBA lender.
Several lenders are participating in SBA’s Community Express loan program, including U.S. Bank, Business Loan Express, Innovative Bank and Superior Financial Group. All entrepreneurs – men and women, students, retirees, current small business owners – are invited to attend the free workshop
“Superior Financial Group is offering SBA guaranteed small business loans for $5,000, $10,000, $15,000 to $25,000 – in $2,500 increments – with no financial statements or collateral required,” said Sue Malone, workshop presenter and a representative of Superior. The loans are payable over a 10-year period, and there is no prepayment penalty.
There are some restrictions on obtaining these loans, according to Malone. Persons with a criminal history, or anyone who has defaulted on a government loan, such as a student loan, are not eligible. “And, non-profit organizations are not eligible, either,” added Malone.
Anyone interested in applying for a small business loan at the workshops should provide a clear photocopy of identification or driver’s license, evidence of citizenship or legal resident status, their federal tax ID number and business checkbook if they are in business and want to get a loan to expand.
For more information, contact the SBDC at the REED Center, 406 Lindell St., Martin, at 731-587-7333. To learn more about SBA loan programs, visit the SBA Website, www.sba.gov/tn, or contact the Tennessee District Office, 615-736-5881. The Tennessee Small Business Development Center network provides free counseling to entrepreneurs and small business owners and operates statewide to assist the small business community.