OPEN finance expert Mike Periu on SBA low-interest loans available for small businesses.
Small-business owners that need financial assistance due to hurricane Sandy should tap disaster recovery loans from the Small Business Administration. The low-interest loans may be used to repair or replace real estate, machinery, equipment, inventory and other business assets that have been damaged or destroyed in a “declared disaster”. The two main types of disaster recovery loans for small businesses are “Business Physical Disaster Loans” and “Economic Injury Disaster Loans”. The maximum amount of assistance available for each type of loan is $2 million. For businesses that have no other access to credit the maximum interest rate is 4 percent and the repayment term can be as long as 30 years.
Who is Mike Periu?
Mike Periu is the President of Proximo, LLC, a company that markets education and training programs to small business owners, entrepreneurs and consumers.
Mike Periu has been interviewed over 500 times for broadcasters including CNN, NBC TVE, RTE and others. Mike is a contributing author to OpenForum, Yahoo! Finanzas and the Huffington Post.
Mike graduated from Georgetown University in Washington, DC. His degrees are in Finance and International Business. In addition to his work Mike is also on the Board of the Council for Economic Education.
Learn more about Mike Periu
Mike works with small businesses to teach them about finance and management. He started Proximo, LLC, a company that offers small business education and training services focused on finance and technology.
Periu also writes for OpenForum, Yahoo! Finanzas the Huffington Post contributor.
Mike went to Georgetown University where he studied Finance and International Business. He also serves on the Board of the Council for Economic Education and was a Fellow at the Kauffman Foundation.
