April 18, 2005

Small businesses can qualify for no-collateral loans during week-long event

TROY – Loans from $5,000 to $50,000 are the focus of Troy University Small Business Development Center ’s five-day start-up and small businesses conference.

Working in conjunction with the Dothan Area Chamber of Commerce, Troy University Continuing Education Center and Senior World of Dothan, business owners can apply for no-collateral, Small Business Administration loans. Small business and start-up business owners can apply for up to $25,000 in unsecured loans, and existing businesses in business for at least two years can apply on-line for unsecured loans of up to $50,000.

Using the Community Express program, start-up and existing business applicants can apply for unsecured loans up to $25,000.  This program requires the clients to receive business counseling from a technical assistance provider (TAP) before approved loans are disbursed. The counseling is free and is provided by the Troy SBDC.  The Troy SBDC is a TAP and a resource partner with SBA will have representatives available to schedule counseling.

Using the SBAExpress program, existing businesses can apply on-line for unsecured loans up to $50,000. A dedicated computer will be setup so applicants can come in and apply on-line for these loans.

“I’m very excited about these new programs and the participation of our lending partners and resource partners.” says Michael Ricks, Alabama SBA Director.  “We now can offer applicants tools that can provide access to capital.  These new products and technology provide these services to the citizens of Alabama in a timelier manner.”

The event will be from 3 p.m. until 7 p.m. May 9 – May 13 on the second floor of Adams Hall on the Dothan campus.

For more information concerning applying for SBA loans, contact the SBA District Office at (205) 290-7101, visit their website www.sba.gov\al or contact our local resource partner: Troy University Small Business Development Center at (334) 670-3771.

SBDCs are supported by the U. S. Small Business Administration and extended to the public on a non-discriminatory basis.  SBA cannot endorse any products, opinions or services of the SBDC’s affiliated entities.  Reasonable accommodations for persons with disabilities will be made if requested at least two weeks in advance.  Contact Brenda Marcum , Small Business Development Center , Troy University , 334-670-3771 to make the arrangements.