Archives
SBA Microloans
SBA microloans are smaller loans provided by SBA and nonprofit lenders in the United States. The upper limit for borrowable money is $50,000, and funds can be used for equipment or machinery purchases and working capital.
SBA Community Advantage Loan
SBA Community Advantage (CA) loans are aimed at helping underrepresented business owners. This includes communities of veterans and finance businesses in underserved communities.
Providing Collateral to Qualify for SBA Loans
In order to be considered eligible for an SBA loan, you would have to present collateral to back the same. The latter can be an asset such as equipment, inventory, or real estate, which can be sold and seized by the lender if you fail to make payments.
Qualifications for Working Capital SBA Line of Credit
Working capital SBA CAPLine offers a maximum of $5 million in funds so that businesses can change short-term assets including pending invoices into cash.
Qualifying Documentation for an SBA Veteran Loan
SBA veteran loans are those made available only to reserve, retired, or honorably discharged U.S. military personnel. These loans have unique requirements that make them different from other major SBA loans.
The Purpose of Small Business Administration
The Small Business Administration refrains from offering direct funding by way of loans issued to small businesses in need. Instead, it provides valuable assistance to these businesses by offering them the needed education.
Rates and Terms for SBA CAPLines
The CAPLines Program under the Small Business Administration lets small businesses obtain lines of credit which might be fixed or revolving, in order to meet their short-term or cyclical working capital needs.
Requirements to Meet for SBA Veteran Loans
SBA loans for veterans are those loans provided exclusively for the benefit of reservist, retired, and honorably discharged U.S. military personnel.
SBA 504 Loans
SBA 504 loans are generally used for long-term machinery or equipment purchases as well as real estate purposes. This is one of the lesser known loans compared to the other SBA loans.
Knowing the Requirements of the Lender to Qualify for an SBA Loan
Having a clear picture of the minimum qualifying requirements put forward by a lender would increase your chances of getting approved to receive their product. Many lenders are willing to provide you assistance if you are performing well in one area but are under-performing in another.
