Helpful Information on Business Finance Loans
When starting a business or if in need of some financial help for an existing business, there are several business finance loans. Depending on the size of the loan and the business will help in the decision on what one is right for you.
Guaranteed Loans From the Small Business Administration
The small business administration does not give you the loan directly but can guarantee the financial institution that it will be paid. These loans go according to the requirements of the small business association. The 7(a) loan program is the most flexible and the one that SBA uses primarily. The major types of 79a) loans are express programs, export loan programs, rural lender advantage program, special purpose loans program, CDC/504 loan program, microloan program, and disaster assistance loan program. These loans are made for existing and start-up businesses.
Before Applying for a Small Business Administration Loan
There are a few things that you need to do before you apply for any loan programs. Before obtaining a loan with the SBA, you must first try to get financed through a different source. If the terms are reasonable and you qualify, you will not need SBA.
If you do not qualify, …
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