Four SBA Loan Programs You Must Know About
Low rates, large loans, good for start-ups, and existing businesses, even loans for working capital and for real estate purchases – there’s plenty to like about Small Business Administration loans.
If you are looking for business capital, it’s time to learn about SBA loans as an option.
Here’s a guide to get you started:
- 7(a) Loans – This is the most popular SBA loan. For small businesses and startups. Federally guaranteed term loans of up to $5 million Funds can be used for working capital, expansion, equipment purchases.
- CDC 504 Loans – Used for long-term financing for major assets, can be used to construct a facility or purchase property, buildings, or equipment. Longer duration, federally guaranteed term loans of up to $5 million. Not for working capital.
- Microloans – Loans of $50,000 or less for startups, small businesses, and even nonprofits. The average loan amount runs around $13,000. Like the 7(a) loans funds can be used for working capital, expansion, equipment purchases but at much smaller amounts.
- Disaster Loans – if your business has been affected by a declared disaster – A great option. Loan proceed Can be used to repair or replace equipment, machinery, inventory, real estate, and business assets.
Many are daunted by the SBA loan programs and don’t apply. We understand. We can promise two things; 1 someone probably less qualified than you will get funded, 2 you can’t get funded if you don’t try.
When you call Dynamic (1-800-833-5110) and initiate the “soft-pull” credit check we then generate a list of lenders and programs that want to fund you.
We’re here to help you. Click or call 1-800-833-5110 now and make the move for great funding with a SBA loan.