How SBA Loans Work:
The Small Business Administration (SBA) sets specific guidelines for these loans and partially guarantees them, reducing the risk for lenders. This arrangement allows lenders to offer better terms to small businesses.
What SBA Loans Can Be Used For:
SBA loans are versatile and can be applied to various business needs, such as:
- Acquiring, refinancing, or improving real estate and buildings.
- Purchasing and installing machinery and equipment.
- Buying furniture, fixtures, and supplies.
- Refinancing existing business debt.
Benefits of SBA Loans:
SBA loans are an excellent choice for small businesses looking to grow, streamline operations, or manage debt effectively
- Lower interest rates and better repayment terms.
- Access to resources to help businesses succeed
- Making it easier to secure financing.
- Some SBA loans don’t require collateral.
