Planning For Your Child’s Future It is not important that you rush into a college savings plan, but rather, that you find a plan that works for you over time! Many college savings plans are available for new parents through a variety of companies that can be found through either a financial advisor or through searches on internet. Take all things into account. Will your child want a public or private education? Will your child attend school in-state or out-of-state? Obviously, these answers will only be hypothetical for now (he/she is just a few days old, remember!), but just enter entire process with an open mind. You have 18 years to save for college – but you can start too early!

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Interest rates on 504 loans are pegged to an increment above current market rate for five-year and 10-year U.S. Treasury issues. Maturities of either 10 or 20 years are available. The 504 loan program is ideal for businesses in need of "brick and mortar" financing such as equipment or building acquisition.

MicroLoan, a 7(m) Loan Program: The MicroLoan Program provides very small loans to start-up or growing small businesses. Under this program, SBA makes funds available to nonprofit community based lenders who act as intermediaries. These lenders in turn make loans to eligible borrowers in amounts up to a maximum of $35,000. The average loan size is about $10,500. Applications are submitted to local intermediary and all credit decisions are made on local level.

In addition, each intermediary is required to provide business based training and technical assistance to its borrowers. Individuals and small businesses applying for microloan financing may be required to fulfill training and/or planning requirements before a loan application is considered.

This type of SBA loan is ideal for small businesses that need extra money for working capital or purchase of inventory, supplies, furniture, fixtures, machinery or equipment. However, loan funds may not be used for purchase of real estate or to pay existing debts.

If you qualify for and receive an SBA loan, you can look forward to several benefits. SBA loans typically have longer maturities than comparable bank loans. Because you will be paying loan back over a longer period of time, down payments and interest rates are usually lower which means you're monthly payment will also be significantly lower than it would be under terms of a conventional loan.