Loans For Small Businesses: Some Answers

Lizzie asks…

Does anyone recall the database started so people could provide small business loans to developing countries?

I saw it on TV a year or so ago. If I’m not mistaken, the creator was in the running for the Nobel Prize. It was started so anyone who had some money to invest, could provide small loans to individuals in developing countries to start their own businesses. Then the loans were repaid with interest and the satisfaction of helping develope the economy of a small country. I think the preliminaries were had positive results, as people were repaying as they should. Does anyone have any information on it or a link?

admin answers:

It was Mohammed Younus, the economist who put the word “microloan” on the map with the Grameen Bank in his native land of Bangladesh.

Here is his profile on the BBC website:

Joseph asks…

Are there any companies that offer small business loans with a deferment period?

New business loans for small businesses with an option to have a deferment period in order to start your business without the stress of loan payments.

admin answers:

Go to and in the upper left hand corner, enter your zip code. On the next screen, you will get information on the nearest SCORE chapter. Call them and arrange for a free meeting with a SCORE counselor to review your business plan and discuss various loan options available to you.

SCORE is a nonprofit association dedicated to entrepreneur education and the formation, growth and success of small business nationwide. SCORE is a resource partner with the U.S. Small Business Administration (SBA).

SCORE has 389 chapters in locations throughout the United States and its territories, with 10,500 volunteers nationwide. Both working and retired executives and business owners donate time and expertise as business counselors.

Steven asks…

What is Unsecured Loans For Small Businesses?

admin answers:

In contrast to large companies that have equity in assets, small businesses with little assets and no property depend on loan options that are unsecured. In addition to missing collateral, most entrepreneurs that develop small businesses struggle in early stages creating a less than perfect financial history making approval for an unsecured business loan or line of credit unlikely. For this reason an unsecured business cash advance tends to be a more suitable option for small businesses.

Cash Advance as an Unsecured Business Loan Alternative

Business cash advances offer the following benefits not available through unsecured loans:

•Flexible repayment options!
•Unsecured, no collateral necessary!
•Bad credit not an issue!

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