Chase just launched a pretty innovative small business lending program. Basically, they are offering to lower interest rates on loans or credit lines to qualified small businesses by as much as 2%, a half a percent for each employee you hire after you’ve secured the loan (up to 3 employees). You’ll certainly need to meet some stiff criteria to qualify for the loan, and you’ll need to move your business’ checking account to Chase, but that’s a given at any bank willing to lend you a dime now. Businesses with annual sales of $10 million or more can borrow between $10,000 and $250,000. The deadline to qualify is December 31, 2010.
Chase has committed $10 billion to small business lending, so if your business is creditworthy, check out Chase Loan for Hire.
Learn more at Chase Loan For Hire.