“The rates are amazing,” says Bob Coleman, publisher of The Coleman Report, the leading SBA intelligence report for lenders. The biggest draw: SBA loans offer low interest rates. (The SBA then may try to collect from the borrower, and being a federal agency it has some significant collection powers.) SBA Loan Interest Rates If the lender has followed SBA guidelines and the borrower defaults, the SBA will pay the guaranty amount to the lender. The SBA sets detailed standards that these loans must meet. The guaranty helps reduce the risk to the lender. The SBA helps small businesses get loans, either directly through the Disaster Loan program or indirectly by guaranteeing a significant portion of an SBA loan made by a participating lender. ![]() How the SBA Helps Small Businesses Get Loans That means your tax dollars help it help small business owners, so be sure you take advantage of what it has to offer. It is funded by taxpayers through Congressional appropriations. It also provides assistance and expertise for businesses that want to qualify for government contracts or export to other countries. ![]() Small business owners can also get free counseling through resource partners such as Small Business Development Centers, SCORE, Veterans Business Outreach Centers and Women’s Business Centers. SBA loans are just a part of what it offers. federal government agency tasked with providing access to capital, along with counseling, exporting and contracting expertise for entrepreneurs. The SBA was created in 1953 and is a U.S. Small Business Administration (SBA), a federal government agency. Individual lenders make SBA loans, which are typically guaranteed in part by the U.S. Except for Disaster Loans, the SBA doesn’t make small business loans. SBA loans may help you start or grow your business with loans that carry lower interest rates, low down payments and favorable terms.
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