Owning a small business can be rewarding and lucrative. It allows you to set your own work schedule, make your own decisions, and make changes to the business’s structure or operations whenever you see fit. However, small businesses often need extra cash to operate successfully. Your cash flow may be unpredictable from day-to-day, or you may just need a little help to get things started when you first open the business.
Unfortunately, it can be difficult for a smaller business to qualify for standard business loans from banks and credit unions. To help entrepreneurs in these situations, the United States Small Business Administration works to provide financing to small businesses in the form of SBA loans.
About SBA Loans
The SBA itself does not offer any direct financing for small businesses. Instead, the SBA insures loans offered by qualifying lenders across the nation. Because the SBA is backing the loan, it presents less of a risk for the lender issuing it. As a result, the lender is more likely to offer the loan to a riskier borrower, such as a small business. The small business can then use the SBA loan to cover unexpected expenses, finance new equipment purchases or expand operations.
Benefits of SBA Loans
SBA loans often have less restrictive credit qualifications than standard loans. They may also feature lower interest rates because they are less risky for the lender. SBA loans are designed specifically for smaller businesses. There are loans available for both start-ups and established small business operations. It’s also very easy to apply for an SBA loan. In fact, UnsecuredBizLoan can help you apply for an SBA loan for your business today!
How to Apply
To apply for an SBA loan, simply complete our easy online financing application. Enter the amount of the loan you need, and one of our representatives will contact you with more information. There is no application fee and no obligation, so you have nothing to lose by applying.
To apply for funding for your small business, use the form on the right to begin the application process.