Business Loans Options for Disabled Persons

by Steve Sanchez⁽⁵⁾
http://www.surveyinferno.com

A significant portion of the small business owners statistics are people with disabilities. If you are a person who suffers from a disability and you want to open your own enterprise, it is possible, even if you are financially challenged. Small business owners who are disabled have several business loan options that they can avail of if they meet the requirements for eligibility. As a matter of fact, a number of banks and private lending institutions offer programs that are centered on such people.

The US Government, through the Small Business Administration (SBA), provides an array of initiatives for qualified applicants, including people with disabilities. The following are just some of the options you can apply for:

US Patriot Express Program. Aside from active and former member of the US Armed Forces and the National Guard, this program is also specifically created for veterans who are disabled while in service or those whose disabilities were caused by an accident or an illness while in service. The US Patriot Program is one of the most popular business loans options that are offered by the SBA because of its features - fast turnaround time, low interest rates, and applicants can apply for as much as $500,000 in loan.

Community Advantage Program. This initiative is designed to provide small cash loans (under $250,000) to qualified members, people with disabilities included. This particular program offers SBA's highest guarantee but with faster turnaround times and less paperwork compared to other SBA business loans options.

If you are living in the state of Illinois, the Department of Commerce and Economic Opportunity also has its strings of business loans programs for those who wish to start or expand their venture. For people with disabilities, they can apply for the Minority, Women, and Disabled Participation Loan Program. This particular small business loans initiative enables eligible borrowers to get loans with which they can use to purchase real estate, buildings, furniture, equipment, and other expenditures crucial to starting or improving a business.

The Maryland Department of Disabilities offers the Assistive Technology Loan to disabled people who want to venture into the small business world. This option, which caps out at $50,000, has helped a huge number of Maryland's disabled persons since its inception.

There are various small business loans and financial aid programs that are available in your state. To learn more, just get in touch with your lender, the nearest SBA Office, or any organizations that offer services to people with disabilities.

Steve Sanchez is an author specializing in SBA Loans . To learn more about Business Loans visit www.lendio.com.

Article submitted Monday, July 25, 2011 & read 192 times.

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