• What Is An SBA Loan? An SBA loan is a small business loan made by a local bank that is in turn guaranteed by the United States Small Business Administration.
  • What Types Of Loans Are Available? SBA loans are very user friendly and provide a financing mechanism which all businesses should at least consider.
  • A Popular SBA Loan Program? Commercial mortgage loans for the purchase, new construction or refinance of commercial properties account for the largest volume of SBA loans.
  • What Is The Size Of Eligible Businesses? The Small Business Act defines an eligible small business as one that is independently owned and operated and not dominant in its field of operation.
  • What SBA Loan Funds May Be Used For? The proceeds of SBA loans can be used for most business purposes.
  • SBA Loan Maturities? SBA loan programs are generally intended to encourage longer term small business financing but actual loan maturities are based on the ability to repay, the purpose of the loan proceeds, and the useful life of the assets financed.
  • Interest Rates Applicable To SBA Loans? Interest rates are negotiated between the borrower and the lender but are subject to SBA maximums, which are pegged to the prime rate.
  • Where To Get An SBA Loan Local banks and other select commercial firms "approved lending source(s)" comprise the distribution system for SBA loans.
  • SBA’s 7A Loan Guarantee Program The 7A Loan Guarantee Program is one of SBA's primary lending programs.
  • The 504 Program The 504 Certified Development Company (CDC) Program provides growing businesses with long-term, fixed-rate financing for major fixed assets, such as land and buildings.
  • Secondary Market Program There is an active secondary market in the loans guaranteed by the Small Business Administration.