Overview of SBA Commercial Loans

SBA commercial loans provide a way for small businesses to get the financing that they need for a variety of different projects. The Small Business Administration is a government agency that is designed to help small businesses get financing. The government recognizes the importance of small businesses and the SBA is committed to help small businesses succeed. The SBA does not actually offer the loans directly to the consumer. Instead, they work through traditional lenders to provide the loans to the customer. The SBA simply guarantees the loans and sets certain lending standards that the lender must follow.

Benefits

Working with this type of loan program can be beneficial. If you do not have a lot of credit, or you have a questionable credit history, working with an SBA lender is going to improve your chances of approval. The SBA is going to stand behind your loan, which means that the lender is going to have lower standards when it comes to approval. With this type of loan, you can also get a lower down payment than you would be able to with a traditional loan.

blog comments powered by Disqus