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SBA Loans

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The U.S. Small Business Administration (SBA) is a federal agency that helps entrepreneurs manage their businesses and gain access to capital. SBA loans have some of the lowest interest rates available, but usually require strong personal and/or business credit. The SBA pre-screens loan applicants with FICO’s SBSS score, a small business credit score. Most businesses, even younger ones, can qualify for an SBA loan–but having a limited business history makes it more difficult.

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What You Need to Know About SBA Loans

Pros: Cons:
Very low interest rates Lengthy paperwork
Longer repayment terms Longer wait time
Very low down payment Requires good credit
Available for many uses May require collateral
Helps build business credit

 

Best Uses for SBA Loans:

  • Working capital
  • Purchasing equipment
  • Purchasing commercial real estate
  • Refinancing
  • Acquiring other businesses

Nav’s verdict:

Go for it! SBA loan applications require time, effort and good credit. But they also have some of the lowest interest rates and most favorable repayment terms available. The money you could save is well worth the effort.

SBA Loan Offers

 

SBA Loan by SmartBiz

SmartBiz combines the benefits of a traditional SBA loan without the long and tedious application Learn More

SBA Loan by Lendistry

Lendistry’s SBA Loans offer qualifying businesses planning for long term growth rates no higher Learn More

SBA Express Loan by Celtic Bank

Celtic Bank is a nationwide small business lender specializing in SBA loans. The Celtic Bank Learn More
View More Offers
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