The Small Business Administration (SBA) has been helping small businesses get started, grow and prosper for over 60 years. SBA loans have been a major component of their menu of helpful services. While SBA loans are only one feature of their small business assistance, their lending programs are their most popular feature.
The 7(a) SBA loan program is actually a variety of different programs for both traditional businesses and companies with some special requirements. Special purpose loans include popular export loan programs, rural business financing, and express and pilot programs.
The acceptable uses of 7(a) SBA loan proceeds are many. You can purchase new buildings and land or rehab existing structures. SBA loan proceeds can help you purchase new equipment, machinery, furniture, supplies or materials. You can also bring accounts payable up-to-date or purchase new inventory. When you need short- or long-term working capital or construction financing, 7(a) SBA loans are another perfect source of low-cost funds.
CreditNowUSA can help you get the SBA loans you need to start or grow your business. The 7(a) program is the one you typically hear about when people, lenders or journalists talk about SBA loans. Except for their Micro-Loan program, SBA actually does not loan money. However, they guarantee up to 85 percent of business loans made by “”approved”” lenders, usually banks.
Most SBA loans are secured and tailored to help newer small businesses succeed. But, if your company has been operating for a while and faces some credit report challenges, the 7(a) program also may be perfect for you. With reasonable interest rates and qualification standards, this SBA loan program helps mature businesses grow and become financially sound.
CreditNowUSA has helped many small businesses grow and/or expand their markets. We also save you valuable time and money by allowing you to use our state-of-the-art website, CreditNowUSA.com, to start the all-important process to get your SBA loan underway. Visit us today. Don’t wait.
To apply for funding for your small business, use the form on the right to begin the application process.