The Small Business Administration (SBA) has created a program of government-guaranteed loans designed to help small businesses that may not otherwise qualify for credit get the funds they need. SBA loans make it possible to qualify businesses more easily and provide them with more flexible terms than conventional loan options, letting you preserve working capital for other expenses.
Who SBA loans are intended for
- Intended for small businesses who don’t fit traditional financing requirements.
- The business must be owner-operated and for-profit.
Advantages of a SBA Guaranteed Loan
- This is a great product for start-up businesses
- Collateral doesn’t have to meet conventional lending standards
- Loans can be used for almost any business purpose from working capital to purchasing a building
- Allows you to refinance existing debt for cash flow relief
- Up to 90% financing on buying existing businesses
- Terms can be as long as 7 years for working capital, 15 years for equipment, and 25 years for Real Estate
- Rates depend on the length of the term and the size of the loan
Helpful Links for Small Business
Small Business Administration Website - The official website of the Small Business Administration.
Evergreen Business Capital - A nonprofit organization authorized by the SBA as a Certified Development Company. They are one of our partners in facilitating SBA loan programs.
Ameritrust CDC - A nonprofit organization authorized by the SBA as a Certified Development Company. They are one of our partners in facilitating SBA loan programs.
NW Business Development Association - A nonprofit organization authorized by the SBA as a Certified Development Company. They are one of our partners in facilitating SBA loan programs.
US Department of Agriculture - The official website of the USDA.
Washington State Small Business Development Centers - A provider of expert business advising, training and research to businesses and entrepreneurs.