If you have been experiencing problems securing a small business loan, then a SBA loan might be just what you need to get the funding for your business. SBA loans, which are backed by the U.S. Small Business Administration, offer another chance at borrowing money when business owners are turned down by traditional lenders.
The SBA does not directly lend money for the loans. Instead, the SBA partners with select financial institutions to get businesses access to financing. The SBA serves as the guarantor for these loans, which generally come with flexible repayment terms and lower interest rates. Another benefit of SBA loans is that you are not required to submit a business plan with the loan application like you have to do for traditional business loan applications.
With the help of UnsecuredBizLoan, your business can be matched with lenders willing to extend an SBA loan to the company. We have a short application on our UnsecuredBizLoan.com website that you can fill out for quick approval and matching to lenders waiting to give you a SBA loan. We offer SBA loans in amounts up to $35,000, which can be used for any business expenses such as equipment repair and advertising costs.
Before applying for your SBA loan, it is advisable to check your personal credit report and credit score. Here at UnsecuredBizLoan we require a minimum credit score of 680 and a clean credit report. Additionally, the business should have at least two years of being active to qualify for the loan. After you submit an application for a SBA loan, you can get notification of approval in as little as 48 hours after the application. New businesses can qualify for $25,000 while existing businesses can qualify for $35,000.
To apply for funding for your small business, use the form on the right to begin the application process.