The 4 Types of SBA Guaranteed Loans

Using SBA guaranteed loans can be a good way to help your business in a variety of ways. Here are a few of the most popular types of SBA guaranteed loans.

1. ARC

ARC stands for America's Recovery Capital. This is a loan program that is designed to help small businesses get through the tough economic times in the country. With this loan, you can borrow as much as $35,000 to help your business. Only one of these loans is allowed per business.

2. Express

Another popular loan is the SBA express loan. This loan is designed to provide you with a quick turnaround on the loan decision. According to the standards of this program, you will be able to get a decision within 36 hours of turning in your application.

3. Patriot Express

The Patriot Express loan is an SBA loan designed to help individuals who are veterans or are currently in the military. With this program, an individual can use the funds to expand his current business or to start a new business. The interest rates are very competitive, and this is a solid loan program for those that qualify.

4. 504 Loans

This is a long-term loan that can be used for a variety of things. You could potentially use it to purchase land, buy equipment or expand your building.

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