Getting a small business loan for a start-up company can be a daunting
task for experienced entrepreneurs or displaced workers striking out on their
own for the first time. Today, Houston based, Covenant Capital Corporation,
launched a new website, that will give small business owners faster and easier
access to up to $15,000 in start-up capital through a federal government loan
program that does not require borrowers to meet any certain consumer credit
scores to qualify.
(PRWEB) March 8, 2005 -- Covenant Capital Corporation president, Ervin
Hughes, states that the program is targeted to meet the needs of underserved
minority and women business owners, but the program does not exclude majority
business owners who are looking for start-up and expansion capital. In Houston,
the program has been well received by the small business community and supported
by local area banks because of the low rates of default on the loans that
originate in loan workshops that are conducted each month.
The program is
currently in the pilot stage meaning that the government is still evaluating the
merits of the program. In 2004, approximately 640 loans totaling nearly $5.2
million was funded and fewer than 10 loans went in to default according to
Hughes. “We believe our numbers speak for themselves”, said Hughes when asked
about the default rate on the loans.
Small business owners who are
looking for up to $15,000 in start-up or expansion capital can attend a free
monthly workshop to apply for the loans. While the workshop is free to attend,
registration before hand is required due to limited seating. Interested parties
can enroll by calling the University of Houston Small Business Development
Center at (713) 752-8488.
For those who are unable to attend a workshop
can complete a prequalification form online or to ask additional questions,
contact: Renee’ Hill toll-free at 1 (866) 816-5607.
http://www.ccapfinancial.com/
About Covenant
Capital Corporation
Covenant Capital Corporation is business consulting firm
and an authorized technical assistance provider for the CommunityExpress Loan
Program.
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