SBA 7(a) Loan

The most basic types of loans from SBA is the 7(a) program. But what is it and why do you want it? The best source is directly from the horses mouth But I think I can summarize it a bit quicker:

The SBA 7(a) loan program is designed to get your small business growing, Now the SBA doesn't directly you loan you capital rather backing business owners when they apply for loans through local lenders. Now there are many types of 7(a) loans, a wide variety that should include your needs and some go all the way up to $2 million dollars.

Now in order for you to get this loan you will have to prove your self eligible, and that your are trustworthy and have a good financial record. “Good character, management capability, collateral, and owner's equity contribution are also important considerations for this loan”.