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  #1  
Old 04-27-2003, 12:22 AM
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Terry_Herrington Terry_Herrington is offline
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Why is it that our government offers small business loans for immigrants? Is the same deals offered to American citizens? I have heard about this for years. What is the truth about it?
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Old 04-27-2003, 06:57 AM
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Couldn't say about the "immigrant" loans. But there are several programs scattered around that provide micro-loans for Americans.
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Old 04-27-2003, 10:13 AM
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Quote:
Originally posted by Terry_Herrington:
Why is it that our government offers small business loans for immigrants? Is the same deals offered to American citizens? I have heard about this for years. What is the truth about it?
I don't know why the government does this, but they do and the loans are interest free. Also, the imigrants do not have to pay taxes for the first five years they are here.

No, they do not offer American citizens the same deals. We are on our own. That's why most of the businesses in our town have been taken over by 'foreigners'.

I'm not prejudiced, just would like the same deal for all of us.

[img]graemlins/type.gif[/img]
Sue
  #4  
Old 04-27-2003, 02:56 PM
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Sue,
It is this type of treatment that fuels prejudice. It really makes me angry that foreigners are given an advantage over citizens.
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Old 04-27-2003, 04:51 PM
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I agree Terry. I could probably buy a business too if I could get an interest free loan and didn't have to pay taxes for five years!
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Old 04-27-2003, 09:50 PM
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Y'all pay taxes?
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Old 04-28-2003, 03:21 AM
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After some research, I assume the program you mentioned is the same as the Small Business Administration-guaranteed loan program, which is open to citizens and legal aliens. The loans are not tax free; the interest rate is often lower because of the guarantee.

I'm not aware of any tax breaks specifically for immigrants.
  #8  
Old 04-28-2003, 07:56 AM
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Maybe it's a state-bt-state thing; but I know several of the people personally and they don't pay income tax for the first five years.

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