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SBA Loans – How They Help Small Businesses

What are SBA Loans and why are they so popular? The answer is easy. SBA (Small Business Administration) loans are government-guaranteed loans provided by the US government to support small businesses throughout the United States. There are a number of loan products available offering a complete range of welcome benefits.

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SBA Loans – How They Help Small Businesses

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  1. S B A L o a n s – Ho w Th e Hh l p S ma l l B u s i n h s s h s What are SBA Loans and why are they so popular? The answer is easy. SBA (Small Business Administration) loans are government-guaranteed loans provided by the US government to support small businesses throughout the United States. There are a number of loan products available offering a complete range of welcome benefits. There are certain criteria that must be met in order to qualify for an SBA loan, which is not an easy process but will be worth the effort in the long run. Ensure when applying for any of the SBA loan options, you work with an experienced lender offering years of industry knowledge and experience. SBA Loan Optons The first of the Small Business Administration Loans is the 7(a) loan. This is the flagship program that guarantees loans of up to $5 million for small companies throughout the United States. These loans can be used for working capital, expansions and equipment financing. The 7(a) loan is processed through a bank, credit union or through a specified lender. If you choose

  2. this program, be sure to choose a reputable bank that has experience with SBA loans, increasing your chances of fast approval. The second of the SBA loans is the 504 loan. This loan is guaranteed up to $5 million and is used to buy land, facilities or machinery. The loan is provided by private-sector lenders and non-profits. Then there are the microloans, one of the SBA loan options which are growing in demand. Micro loans are smaller loans up to the value of $50,000. This can be used for working capital, inventory and equipment or even starting up your own business. These loans are processed by community-based non-profits. Disaster loans are the final of the Small Business Administration loans on offer. This is a loan of up to $2 million. It is only offered to small businesses who have been affected by a national disaster or another emergency. In order to have a loan of this nature processed you have to apply through the Small Business Administration. Benefis SBA loans do offer the small business owner a host of welcome benefits which include securing lower interest rates. It’s the interest rate that pushes up your repayment amount. The higher the interest, the more money you repay. Enjoy discounted rates and a lower repayment amount with a loan that is backed by the government. The SBA loan provides you with available capital which you can use as needed, whether you need working capital, you want to start your new business or you want to expand your current business. Having the working capital at hand ensures you are able to cover daily operational expenses with ease and confidence. In addition to this, SBA loans come with flexible repayment terms based on the amount you want to borrow and how much you want to repay per month. The terms can range from a few months to a few years, depending on the loan agreement. Further, you will find that you can use the money as you feel fit. You don’t have to answer to anyone on how the money is used. You use it at your discretion, ensuring that you make the best use of the funds you have at hand to drive and push your business forward. The final benefit worth noting when it comes to SBA loans is that when applying, your chances of approval are increased. With the government backing your loan, you become less of a risk and therefore while these loans may not be easy to apply for, once approved, you enjoy welcome benefits to help you with your business finances in the long run.

  3. About Us: CalPrivate Bank, formerly San Diego Private Bank, is a leading private bank, serving clients throughout Southern California in the United States. This very well-established bank services high net worth individuals and businesses of all sizes. CalPrivate Bank’s focus is to provide a Distinctly Different Banking Experience through unparalleled service and creative funding solutions for individuals and businesses with complex financial needs. They offer a wide array of financial services, including checking, savings, time deposit accounts, treasury management and related tools. To find out more, visit www.calprivate.bank

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