Complete SBA Loan Guide

Complete SBA Loan Guide
Small business lending has never looked so good, which is great both for small business owners and our local economy. In fact, by the end of the 2014 Fiscal year (Sept 30) the Small Business Associations 7(a) Loan Program has approved over fifty-two thousand loans for nearly 20 billion dollars (that is a 12 percent increase from the 2013 fiscal year). What does this mean? Now is most certainly the time to look into your borrowing options, as in previous years SBA lending saw decreases. Small Business loans can be a treacherous territory to navigate, so we have prepared a brief guide to help you understand what an SBA loan is, the benefits and your best options for getting one! What is an SBA Loan? First, the SBA does not lend money. A lot of people think the SBA provides grants to small business owners, but that is not true. The SBA is a government guarantee program that issues guarantees to decrease the risk to the bank when lending to small businesses. Available SBA Loans  There are several lending options open to businesses, each suited for different needs. The 7(a) loan program is great for small businesses looking for a line...