Under the U.S. Small Business Administration’s various “SBA loan” programs, you can borrow money for nearly any business purpose—including adding to working capital, purchasing inventory or equipment, refinancing other debts, buying real estate, or even funding the acquisition of other businesses.
Securing an SBA loan is not the most rapid choice but it may provide the longest repayment period.
Are you eligible? Many businesses—including small or newer ones—can qualify for an SBA loan. The most important factor will be your credit score: SBA loans are for business owners with strong borrowing histories. Be prepared: SBA loans usually require a lot of time, energy, attention, and documentation.
It’s definitely not a loan that you’ll apply to and receive the funding for in a few days, but it is a loan you can use to grow your business, refinance your other debt, and more at the lowest available rates.
You might find it difficult to qualify for an SBA loan if your company has a limited track record or, especially, if your credit is poor. After all, the SBA and your lender are sticking their neck out on the belief that you’re a reliable borrower.
If you are to ready complete our trouble free online application, click the apply now in the menu or below.
Call Globelend Capital: 855.842.5626
What’s the bottom line for your business’s bottom line? Well, the cost and repayment of your SBA loan depends on the program you choose. Here are the fees, interest rates, and repayment terms usually associated with each of SBA’s most popular loan programs.
Let our finance team provide additional details to you if one of these is most feasible for your business.