Patriot Express Loans Available to
Entrepreneurs in the Military Community

The US Small Business Administration (SBA) has recently announced the availability of low-interest business loans of up to $500,000 to entrepreneurs in the military community. 

The Patriot Express Loan features the SBA's fastest turnaround time for loan approvals as well as the lowest interest rates for business loans, generally ranging from 2.25% - 4.75%.

Patriot Express Loans are available to military community members including:
- Veterans
- Service-disabled veterans
- Active-duty service members in the military’s Transition Assistance Program
- Reservists and National Guard members
- Current spouses of any of the above
- Widowed spouses of service members or veterans who died during service or of a service-connected disability

Minnesota SBA District Office:  www.sba.gov/mn
Wisconsin SBA District Office:  www.sba.gov/wi
 

Save the Date!

Fall Business Summit
Wednesday, September 26, 2007
Mountain Iron Community Center

Whether you are a long-time business owner, an ambitious entrepreneur, or simply exploring the idea of starting up your own business someday, join us at the Mountain Iron Community Center on September 26!

This full-day event will offer you a wealth of information and resources.  Seminars and workshops will be offered on a variety of topics important to business owners and entrepreneurs in the northland, and you will have the opportunity to hear from experts on our local and global economies.  

Sponsored by the Northeast Entrepreneur Fund
and the Laurentian Chamber of Commerce.
 

Understanding and Improving Your Credit Score

When you're applying for credit - whether it be a credit card, a mortgage, a car loan, a personal loan, or a business loan - lenders will look at your credit score in order to determine your risk level.  The following articles and information will help you gain a better understanding of how credit scores are determined and what you can do to improve yours.
 

"Understanding Your FICO^® Score"
http://www.myfico.com/Downloads/Files/myFICO_UYFS_Booklet.pdf

The most widely used credit scores are FICO scores, created by the Fair Isaac Corporation and available through all three major credit reporting agencies.  This booklet provides a thorough description of credit scoring, including ways credit scoring can help you, the relationship between your credit report and your credit score, what a FICO score considers, and interpreting your score.
 

"How Can I Fix My Credit Score?"
http://www.msnbc.msn.com/id/18828566/

This article from MSNBC provides a breakdown of how your credit score is calculated and offers tips for improving your score.
 

"Alternative Credit Scores Could Open the Door For Loans"
http://www.usatoday.com/money/perfi/credit/2006-05-16-credit-scores-usat_x.htm

Nearly 50 million American consumers run into problems securing loans because they have virtually no credit history.  According to this article from USA Today, the finance industry is working to remedy this problem by creating alternative credit ratings that draw from data not currently examined the the large credit reporting agencies.
 

This Month's Featured Entrepreneurial Resources 

Small Business Environmental Assistance Program
http://www.pca.state.mn.us/programs/sbap_p.html

Offers free, non-regulatory, confidential environmental assistance to small businesses.  Assists with compliance issues and offers pollution prevention opportunities to reduce regulatory burdens.

OSHA
www.osha.gov

Information on laws, regulations, and standards pertaining to safety and health in the workplace.