U.S. Small Business Administration Guaranteed Loans
The U.S. Small Business Administration (SBA) is a major source of financing for small businesses in the United States. The SBA’s various loan programs have provided needed funding for thousands of small enterprises who were unable to secure loans from lending institutions on their own; indeed, businesses cannot solicit loans from the SBA unless they are unable to get funding independently.
Some of today’s most successful businesses, including Intel, Apple, and Federal Express, were each given a much needed boost in their early days by SBA loans. This record of success, coupled with the trend toward small-business start-ups and entrepreneurship in America, has encouraged both the SBA and its lending partners to continue to expand its loan programs. The SBA has subsequently set new records in various loan guarantee categories since the mid-1990s.
The SBA offers a variety of loan programs for specific purposes. The two most prominent types of loans are the
- 7(a) Program
- 504 Program
We act as intermediaries “feeding” loan requests to SBA lenders. We have established relationships with local, regional and national SBA Preferred Lenders. SBA lenders are not all the same. The type of business, type of customer and loan amount play a big part in the lender’s appetite for these loans. Just because a loan was rejected by one lender, it doesn’t mean that another won’t approve it. We know what our lenders are looking for and we only submit your loan to a lender or lenders with the highest probability of approval.
Before we take a full application, we’ll ask for some basic documents to pre-qualify the loan request to make sure it meets the minimum loan requirements. If we are comfortable with the loan request, we’ll request some additional documents, put together a full loan package and submit it to a lender or lenders whose guidelines the loan request meets.
We understand that small business owners don’t necessarily have a 9 to 5 schedule, so we’re able to work around your schedule. Evening and weekend appointments are available – Our place, your place, somewhere in between or over the phone.
Below you’ll find an overview of both programs. The information listed should answer most of your questions. If you need additional information or you want us to pre-qualify your loan, feel free to contact us.