The U.S. government has come to the rescue of small firms
impacted by the North American Free Trade Agreement (NAFTA). Firms
in 35 designated communities nationwide can apply for loan
guaranties of up to $750,000 through the Small Business
Association's (SBA) 7(a) loan program, the North American
Development Bank (NADBank) or the Department of Agriculture's
Business and Industry Loan Program. The cost of the loans and loan
guaranties will be underwritten by NADBank.
Eligible businesses must be located in one of the designated
impacted areas, meet conventional SBA loan standards and size
requirements, and be able to show that proceeds will help the
company create or retain one job for every $35,000 loaned.
The loans are part of the NAFTA Transitional Adjustment program
run by the same organizations offering the loans, and are open to
businesses in communities where unemployment is at least 6.5
percent. For more information, contact your local SBA office.
Content Continues Below
Page 1 |
2 |
3 |
4 |
5 