Business Loan

You choose the way that you spend your funding
Affordable rates and great terms
You pay no upfront fees or application costs
No financial paperwork is necessary for most individuals
You can eliminate costly mistakes by consulting our expert staff
Never leave your home or office
No need to prepare a business plan to outline your spending
No business type requirements
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The business loan may be used to start or grow a small business or to purchase commercial real estate. There are always key questions to ask before accepting any loan offer and this is especially true with the business loan. The business loan sometimes uses the business as equity and always uses the name of the business so failure to repay a business loan threatens the business itself, in terms of actual loss or loss of credibility. For this reason, the business loan should be fully explored before being accepted.

SBA's Role in Providing Financial Assistance

The U.S. Small Business Administration (SBA) provides many services to small businesses including advocacy, management, procurement and financial assistance. Under its Congressional mandate, the SBA assists the nation's small businesses through a number of programs and efforts. The SBA helps new or growing businesses meet their financial needs and through its work this agency helps to preserve the nation's free enterprise system and to strengthen the economy. Many small businesses find that they need assistance when it comes to financial matters. SBA Financial Assistance is proved through four types of programs: SBA Investment programs, Business Loan programs, Disaster Loan programs and Contractor Bonding.

The SBA licenses privately owned and managed investment firms through the Small Business Investment Company (SBIC) program. This program forms a partnership between the government and the private sector economy. SBIC's provide venture capital to small businesses that show potential for growth and prosperity. Profit motivates SBIC's to invest in small businesses.

The SBA's Business Loan programs works through private lenders, community development organizations and micro-lending institutions to provide small business loans. The SBA sets the guidelines for loans for which they provide a guaranty of repayment. There are three loan programs available through the SBA: the 7(a) loan program, the prequalification loan program and the 504 loan program. The 7(a) program and the prequalification program offers guarantees to private lenders that money borrowed will be repaid. Through the 504 program, the SBA works with certified development companies to help finance businesses that are promoting job growth or meeting public policy goals.

The SBA loan programs provide borrowers with longer repayment terms and larger loan amounts than are traditionally available to small businesses. Many business owners find available cash flow to be lacking at one time or another.  For them an SBA guaranteed loan may be the answer and possibly the best way of obtaining long term financing.  SBA guaranteed loan terms typically range from 7 to 25 years and are fully amortized depending on the purpose of the loan.

The SBA provides disaster assistance to residents within a declared disaster area. This program helps homeowners and renters to rebuild their lives.  Loans can be used for both personal and real property, for rebuilding and protection against future damage. Even the refinancing of damaged property is possible through this program.

The Surety Bond Guarantee (SBG) program provides small and minority contractors with the opportunity to bid on projects. The SBA guarantees bonds for contracts up to $2 million. This program gives sureties an incentive to provide bonding to small businesses. The guarantee provides that should a contractor breach the terms of a contract the SBA will assume a predetermined percentage of the loss.

The SBA is charged with the responsibility of assisting American small businesses in financial matters. The success of a business weighs deeply in its financial ability. Not only does the SBA provide financial opportunities, they also offer education and consulting opportunities for new and expanding businesses. Many now successful businesses say that without the SBA, they would not be where they are today.