Finding Money for Your Small New Jersey Business

If you have a small New Jersey business and you’re wondering about financing – look no further than this informative podcast from the office of the Small Business Administration (SBA).

Ron Johnson of the SBA is the interviewer and the interviewee is Jim Hammersely.

Some highlights:

Ron Johnson: What is this 7A loan program?

Jim Hammersley: The 7A loan program is a program where SBA puts a federal guarantee on a loan made by a private sector lender, typically a bank, to a qualifying small business.  The purpose of the guarantee is to encourage the lender to make a loan to a small business that would not quite qualify under their conventional standards but has a viable business and a well-thought out business plan.

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Financing a Small Business

Many new business owners don’t have the money to begin or grow their new New Jersey business. Funding is necessary so they turn to family, friends, VC’s, and small business loans. This short podcast talks a little bit about how to go about finding the money to fund your new business.

( Transcript)

If you have any experiences you want to share about financing your small New Jersey business with help from the SBA please leave your story in the comments section below. Thanks!