The Biden administration is giving entrepreneurs a chance at loans up to $5 million to help launch and grow businesses

Image caption: New moves by the SBA could make it easier for entrepreneurs to get loans. Image credit: Klaus Vedfelt / Getty Images. Article by Noah Sheidlower. Insider – August 1, 2023.

• The Small Business Administration announced new efforts to assist entrepreneurs in getting loans.
• This includes simplifying loan requirements and expanding nonbank lenders that can issue SBA loans.
• These efforts are meant to close capital-access gaps for minority and rural small-business owners. […]

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