SBA Loans

Why Use an SBA Loan

 

Approval Amount: $5k-$5M

Repayment Structure: Monthly 

Term Length: 5-25  years

Interest Rate: 6.75% and Up

Time to Funding: 3-18 Weeks


Pros: 

  • Low Down Payments
  • Long Term Lengths Available
  • Low Interest Rates

Cons: 

  • Long Application Process
  • Takes the Most Paperwork of Any Type of Loan
  • May Require Collateral 
  • Very Hard to Secure an Approval 
  • Over 4 Years Time in Business Required
  • Good Personal Credit Required (680+)





The U.S Small Business Administration helps secure funding by backing lenders (mostly banks) with very competitive busienss loans. While SBA loans are traditionally viewed as the preferred type of loan, they are also the hardest type to get approved and take the longest. 

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