Get Your Dreams Off the Ground With an SBA Loan

You’ve spent months on your business plan, and you know your product or service backward and forward. Everything is in place to open the doors of your new business; now you just need the money to put your plan in motion. A small business loan through the U.S. Small Business Administration (SBA) may be the solution you need.

Advantages of a Loan Through the Small Business Administration

While you may be able to qualify for a traditional bank loan, you should still consider a loan through the Small Business Administration as an alternative. The involvement of the government gives these loan programs some definite advantages.

  • Because the loans are backed by the government, lenders take on less risk. This allows for better interest rates.
  • This type of loan usually requires a smaller down payment than a traditional bank loan.
  • Working capital can be financed through an SBA loan. Often, a business loan from a bank is not available for capital purposes.
  • The organization offers multiple options for repayment of your loan. Whether you need lower payments over a longer term or you want larger payments to pay off the debt faster, the agency likely has something that will work for you.
  • The loans come with access to extensive resources to help your company succeed. Specialized units within the Administration focus on helping businesses owned by women or minorities, and vast libraries of information are available through the agency’s website.

How Does the Small Business Administration Loan Money?

It’s important to understand that the Small Business Administration itself doesn’t make loans. Rather, it works with a network of banks and other lenders to guarantee the loans made by those institutions. This lowers the risk to the lending institution, which in turn makes the terms friendlier to the borrower. If this arrangement sounds like something that could help you launch your dreams, contact Grecco Capital Finance today to get started.