SBA commercial loan giving you the funding your business needs to grow.
SBA commercial loan funding by the Small Business Administration is setup for entrepreneurs and businesses to ease the process of getting approved for a business loan. If you are looking into debt financing as a capital option for your business, but are worried that you won’t get approved look to the SBA for assistance.
This federal agency does not loan any money itself, but they guarantee 75 percent of loans made by private lenders. The maximum SBA commercial loan is $1 million, so up to $750,000 of that will be guaranteed. This guarantee of your loan will often take the place of collateral, or it will greatly decrease the amount of collateral you need to secure a loan. The SBA has given the lender a peace of mind about you, so they are more likely to provide your business with financing.
The SBA will consider your good character, management experience, and the amount of equity that you personally have poured into the business. You will be required to personally guarantee the SBA commercial loan as well. With other forms of business financing which are different from the SBA you want to try all that you can to stay away from personally guaranteeing loans, and try to establish business credit scores.
To get the ball rolling towards your approval for an SBA commercial loan you can contact one of the many SBA approved lenders in our business funding directory. You can browse the directory completely free of charge.