SBA loans are a popular and effective alternative for small businesses to get the capital they need to achieve their goals. Today we take a closer look at a common question about SBA loans: who qualifies for SBA loans? Keep reading to learn more. Who Qualifies for SBA Loans? The vast majority of small businesses…
Chances are good that you have already heard about SBA loans. You probably know that they are particularly convenient because they are designed with the needs of small business owners in mind. But how do SBA loans work, really? Keep reading and discover the answer. How Do SBA Loans Work? Before we delve into the…
Looking to apply for an SBA loan? Here are three easy tips to simplify the process and keep your stress levels to a minimum. Taking out a business loan can seem like a complicated process but don’t worry — a few helpful pointers can make a big difference and put you one step ahead of…
While SBA loans are a powerful financing alternative for business owners, they can also be confusing to the uninitiated. If you are new to the world of SBA loans, don’t worry. This essential glossary will help you make sense of it all. 7(a) Loans This is SBA’s most common loan program and the best alternative…
When it comes to loans, business loans and personal loans are two of the most common. But what are the differences between them? What are personal loans used for? Keep reading to discover the answers. What Is a Business Loan? Simply put, a business loan is a loan intended for business purposes. Needless to say,…
A business loan is a key component in the strategy of any business, regardless of its size or scope. Here’s everything you need to know about business loans, from a basic definition to the best options in business loans depending on what you need the capital for. What Is a Business Loan? A business loan…
If you are looking for a financing option to purchase commercial real estate or other major fixed assets, then a 504 loan may be the right option for you. Here’s everything you need to know about this useful financing program. What Are 504 Loans? The first thing to understand about 504 loans is that they…
There is a development that hasn’t been widely publicized but should grab the attention of every business owner: This is the best time to get an SBA business loan. Here’s the bottom line: with the new stimulus bill, if you get a new 7(a) or 504 loan before September 30, 2021, then the first six…
Interested in taking out a business loan? Get a jump on the lending process with these nine essential financing terms. Collateral This is the asset or assets that a borrower (see below) pledges as a backup when they take out a loan. In the case of loans that involve a substantial amount of money, real…
The process of taking out a loan begins before you meet with a lender. Preparation is key to make the process as smooth and efficient as possible. Here are three steps you can take to lay a solid groundwork if you are preparing for an SBA loan. Ask Yourself the Right Questions Begin by making…
