Government loan, how to get it?

To obtain a government loan in the United States, you’ll need to follow a specific process that varies depending on the type of loan you’re interested in.

The U.S. government offers various loan programs for different purposes, including student loans, small business loans, and home loans.

Government loan categories

The government loan it’s a type of resource to people to find the programs that better suit them into getting the money they need.

They have loans for agriculture, business, education, housing, veterans and repayment.

Agricultural loans

The first category is the agricultural loan, in this type we can find a lot of other subcategories to help people with this goal.

Those subtypes are:

• Farm Operating Loans from The Farm Service Agency, or FSA;
• Fisheries Finance Program (FFP);
• Farm Ownership Loans;
• Farm Storage Facility Loans (FSFL).

Which one of these will help in a different matter but all in the field of agriculture.

Business loans

To help entrepreneurs to start their business there’s also a lot of loans types that can be helpful, like:

• Equity Investment – Small Business Investment Company (SBIC) Program;
• Business and Industrial Loans;
• Indian Loan Guaranty, Insurance, and Interest Subsidy Program;
• 7(a) Small Business Loan;
• Fisheries Finance Program.

Education loans

There’s also option to students who may need help paying for their studies, like:

• Education Loan Consolidation;
• Free Application for Federal Student Aid (FAFSA);
• Stafford Loans for Students;
• Financial Aid Programs;
• Direct PLUS Loans.

Housing loans

For housing purposes there’s more than 10 types of loans to help people get a house depending on the eligibility and type of people they are.

Some examples of the types of loans for housing are:

• Rural Housing Loans;
• Basic FHA Insured Home Mortgage;
• Home Loan for Regular Purchase;
• Interest Rate Reduction Refinance Loan (IRRRL);
• Home and Property Disaster Loans and much more.

Veterans Loans

There’s also loan programs to people who served on wars and are veterans, for that the USA government have this programs:

• Direct Home Loans for Native Americans;
• Cash-Out Refinance Loan;
• Interest Rate Reduction Refinance Loan (IRRRL);
• Veterans Life Insurance Policy Loans and Cash Surrenders;
• Home Loan for Regular Purchase.

How to get a government loan?

To get a government loan, first you’ll need to discover what type is right for you, so read all the information about those types of loans we mentioned.

While reading, you will need to discover the eligibility of each program to find out if they are possible or not for you and your current living situation.

You can easily find out the eligibility requirements for a specific loan program by visiting the website of the government agency that administers the program.

If you are eligible for this loan program it’s time for you to apply, the application process can depend on the type of government loan you’ll get. But usually this process can be done online, by phone or mail.

During application the government will ask your documentation, like tax returns, personal information and financial statements, to comprove that you really are eligible for this.