If your business is in need of some financial assistance, then a SBA loan might be just what the company needs. SBA loans are business loans backed by the United States Small Business Administration. While the SBA does not directly lend the money for the loans, they do assist businesses by partnering and consulting with lending institutions that approve loans for small businesses.
Since not all financial institutions are willing to give a loan to a small business, it is quite beneficial for a business to seek out a SBA loan. It can mean the difference between securing much needed financing and getting turned down for financing.
SBA loans can be used for the same expenses and costs that a regular business loan is used for by a company. This means you can use the funds from the loan to cover everything from business expansion to upcoming bills to purchasing or upgrading equipment. Through Unsecured Business Loan, new small businesses can apply for SBA loan in the amount of $25,000 while existing businesses can apply for a higher loan in the amount of $35,000.
With Unsecured Business Loan, you can submit an application for a SBA loan online directly from this website. The application process for all SBA loans requires both business information as well as business owner information. For that reason, it benefits the business if the owners have a good credit score. In fact, Unsecured Business Loan recommends a minimum credit score of 680 for each business owner. Additionally, the business needs to have been in operation for a minimum of two years.
To apply for funding for your small business, use the form on the right to begin the application process.