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Workshop set for SBA loans

Friday, April 25, 2008

LEWISTON - The Maine Center for Women, Work and Community will host a workshop May 1 explaining the U.S. Small Business Administration's Community Express Loan program. The workshop is from 9 a.m. to noon in room 107 at the University of Southern Maine/Lewiston Auburn Campus, 51-55 Westminster St.

The SBA Community Express Loan program is geared to early stage small businesses that have not been able to establish a track record with their local lender. Superior Financial Group, LLC, the lending partner participating in the workshop, is a federally licensed SBA lender and provides loans of up to $25,000 under this program.

In the loan program, the business owner receives free technical assistance during the life of the loan, from SCORE.

The loan application will be completed following the seminar. Loan approvals are usually obtained within 72 hours of application.

Participants attending the workshop should bring a business account checkbook, a valid driver's license, and a business plan (if a startup business, the business plan must have two years of projected sales revenues and expenses). Be aware, a participant or any person who owns 20 percent or more of the business will be personally guaranteeing the loan.

For more information, call Shirley Hamilton at 753-6505.

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