Governor Quinn Signs Legislation to Improve Veterans’ Access to Small Business Loans

Governor Quinn Signs Legislation to Improve Veterans’ Access to Small Business Loans
Governor Pat Quinn today signed a bill into law that improve access to credit for small businesses Illinois' Veterans. The current state small business loan program provides assistance for entrepreneurs, minorities, women or people with disabilities. The new law expands the eligibility for this loan program, veteran small business in the hand.

"Small businesses employ millions of people in Illinois and are the backbone of our economy - we must do everything we can to support them," said Governor Quinn. "This important new law will help create jobs and help small businesses by the brave men and women who served this country ownership."

Senate Bill 3817 expands eligibility of the State's minority participation, women and disabled participation Loan Program (MWD / PLP) for small business at least 51 percent owned and managed a resident of an Illinois who, as a member of the United States Armed Forces and served, are given a honorable discharge. The law was sponsored by Senator Linda Holmes (D-Plainfield) and Rep. Carol Sente (D-Vernon Hills).

FEMA: SBA Disaster Loan Program Is Key To Storm Recovery

Lexington, KY (LoanSafe.org) - For many Kentuckians recovering after a storm in July, flooding and mudslides, completed disaster loan application process is necessary.

Funds to repair or replace flood damaged property, real and personal property (including automobiles) may be in the form of low-interest disaster loans from America Small Business Administration (SBA) has come.

SBA loan application to complete vital component for some federal disaster assistance from Emergency Management Agency (FEMA) has been considered. Owners who rent houses and to receive SBA loan applications are encouraged to complete and return them to the FEMA assistance that covers personal property, vehicle repair or replacement and transportation and storage costs are considered to be .

Register with FEMA, the first step in seeking federal disaster aid. This can be done online www.DisasterAssistance.gov or by calling 800 - 621 - FEMA (3362) or (TTY) 800-462-7585 for those with speech and hearing disabilities. Assistance is also available at registration centers, disaster recovery.

Homeowners, rental, business and nonprofit organizations of any size Pike in the city can apply for SBA loans to pay for accident damage. People with home based business or rental property have been damaged by the storm may also be eligible for loans SBA.

Homeowners can borrow to pay 200,000 dollars to repair or replace the primary residence is. Homeowners can borrow or rent to $ 40,000 personal property lost in the disaster to replace.

Business owners can borrow up to 2 million dollars to repair or replace disaster damaged real estate and real, machinery and equipment, inventory and assets other business. SBA small business owners as well as economic injury disaster loans for business expenses from continuing economic impact of natural disasters recover. Economic injury loans are available, even if businesses were damaged