Government Guaranteed Loan is a federal government assisted loan that’s suitable for both start-ups and existing business owners. This loan is provided for purchase and installation of new equipment, renovation of fixed assets, and for industrial modernization.It’s guaranteed for 75% of the total loan amount by federal government, best for notching up your business. Important features of Government Guaranteed loan are:
- Loan amount does not exceed $350k for equipment upgrade and leasehold improvements.
- There’s no need to use personal assets as security.
- Term loans cover the assets that are not usually covered by traditional lending institutions.