The U.S. government has come to the rescue of small firmsimpacted by the North American Free Trade Agreement (NAFTA). Firmsin 35 designated communities nationwide can apply for loanguaranties of up to $750,000 through the Small BusinessAssociation's (SBA) 7(a) loan program, the North AmericanDevelopment Bank (NADBank) or the Department of Agriculture'sBusiness and Industry Loan Program. The cost of the loans and loanguaranties will be underwritten by NADBank.
Eligible businesses must be located in one of the designatedimpacted areas, meet conventional SBA loan standards and sizerequirements, and be able to show that proceeds will help thecompany create or retain one job for every $35,000 loaned.
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