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New and existing companies often need business loans to help them maintain cash flow while they make capital investments, expand, or prepare for opening day. The US Government has an agency called the Small Business Administration (SBA) that is charged with maintaining a variety of programs that offer business loans for different purposes. Just a few of these loans are discussed here.
Small business loans called 7 (a) loans are the building blocks for many American small businesses. These loans are designed to help businesses that lack the credit and financial standing on their own to qualify for private loans. Although these loans are still issued by private lenders, the program is backed by the SBA, meaning that qualifying for the loans is easier. 7 (a) loans can provide up to $2 million dollars and are payable over 25 years for real estate and 7 years when used as working capital.
The Business and Industrial loan program extends financing to businesses in an effort to stimulate employment in rural areas. These loans are guaranteed by the government and are offered on the condition that the business loans will be used to employ workers, improve the economy of their operating area, promote renewable energy sources and conserve water.
Physical disaster loans are business loans offered by the government with the intention of helping businesses rebuild after a natural disaster like an earthquake or flood. To qualify for these loans, a business must be inside an officially declared disaster area. Loan amounts extend up to $2 million and are offered only to cover the amounts of uncompensated damages that are not covered by insurance or other programs.
The Certified Development Company program (CDC/504) offers loans that will cover 40% of the cost of starting a business in an underprivileged area. To qualify for this type of business loan, a company must be profitable have a net worth of less than $8.5 million and have a net income of less than $3 million.
Whether starting or growing a business, business owners are encouraged to learn more about these and other business loans that are available through the SBA.
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Where can one find more about SBA business loans?
More information on SBA business loans can be found on the SBA government website. Banks like Wells Fargo and Chase also give an explanation of what SBA business loans are.
How Do I Apply For An SBA Loan?
SBA offers many loan programs which can be described at their website. The SBA does not directly make loans, however they will guarantee loans made with the help of SBA approved lenders. You can find a business counselor who can help you in preparing your SBA loan application.
What is a sba small business loan?
Small Business Administration or sba small business loans are low-interest loans offered to small businesses by federal, state, and local government. These loans are offered to help small businesses with start-up costs and growth.
Where would one be able to obtain a start up business loan?
The Small Business Administration (SBA) offers loans and grants for startup businesses. In addition SBA will offer subsidized loans; loans that are obtained from a traditional bank but whose rates are lower than normal due to SBA funding.
What kind of programs does SBA loan have?
An SBA Loan can cover a several different types of needs. Some of the most common are General Small Business Loans, Short-Term Business Loans, Real Estate Loans, Construction Equipment Loans, and Disaster Loans for small businesses and non-profit organizations.
Where can one find more about SBA business loans?
More information on SBA business loans can be found on the SBA government website. Banks like Wells Fargo and Chase also give an explanation of what SBA business loans are.
What types of things apply in an SBA loan?
SBA stands for Small Business Administration. SBA is a federal government organization that gives loans and encourages small businesses to emerge in the United States. The loans that are made to businesses by the SBA are usually guaranteed and very helpful in successfully starting a business.
How Do I Apply For An SBA Loan?
SBA offers many loan programs which can be described at their website. The SBA does not directly make loans, however they will guarantee loans made with the help of SBA approved lenders. You can find a business counselor who can help you in preparing your SBA loan application.
What is a sba small business loan?
Small Business Administration or sba small business loans are low-interest loans offered to small businesses by federal, state, and local government. These loans are offered to help small businesses with start-up costs and growth.
Where would one be able to obtain a start up business loan?
The Small Business Administration (SBA) offers loans and grants for startup businesses. In addition SBA will offer subsidized loans; loans that are obtained from a traditional bank but whose rates are lower than normal due to SBA funding.
What kind of programs does SBA loan have?
An SBA Loan can cover a several different types of needs. Some of the most common are General Small Business Loans, Short-Term Business Loans, Real Estate Loans, Construction Equipment Loans, and Disaster Loans for small businesses and non-profit organizations.
Where could one find a government business loan?
One can find information regarding government business loans at the SBA which is also know as the Small Business Administration. These loans are also often offered through banks and credit unions that partner with the SBA.
Is An SBA Loan Just For A New Business?
No. Merchant Advisors provides SBA loans to a lot of established companies to allow them to grow and expand.
What is sba and how does the program work?
The SBA stands for Small Business Association. It insures that small businesses will have enough money to start their business and keep it going. It also helps them with loans.
What is the definition of an SBA commercial loan?
SBA means Small Business Administration. Go to sba.gov and it will give the break down of what is involved in an SBA commercial loans. There several categories based on how many employees, what type of business, etc.
Where can I find advice on sba bank loans?
you can find advise on sba bank loans from websites that offer info on this type of business or service. The smart way is to call them and read their FAQ that is on their home page.
What are the best minority small business grants?
The Small Business Administration (www.sba.gov) and www.proposalwriter.com/govtgrants.html will both help you find the best small business grants for minorities. Minority Business Grants, SBA Loans, SBA Small Business Loans are the best minority small business grants. You can apply for them at www.business.gov/start/woman-owned
