From SBA loan requirements to application tips, learn all you need to know about SBA loans in this comprehensive guide to help you make informed decisions.
Get an SBA loan from Bank of America to help your business qualify for financing more easily and preserve working capital. Learn more about SBA loan types and qualifications for applying.
Equipment financing loans can be used to buy business equipment and machinery. Banks, SBA and online lenders offer equipment loans.
Key takeaways ; SBA loans are competitive and have a long application process, but are affordable with set maximum interest rates ; Conventional loans are available from banks, credit unions and online lenders ; You can find SBA loans from various lenders, including larger financial institutions and online lenders
Get a commercial real estate loan from Bank of America. Calculate your estimated monthly payments and learn the requirements for buying, refinancing or expanding your business.
Q4. What Is an SBA Loan? ; An SBA loan is a government-backed financing option designed to help small businesses start or expand. These loans come with specific eligibility requirements, including size standards, the ability to repay the loan, and a clear business purpose. The SBA partners with approved lenders to offer these loans, significantly reducing the risk for lenders by guaranteeing a portion of the loan amount. ; To explore whether an SBA loan is the right fit for your business, you can complete our quick 15-second online application to connect with a business financing advisor today or DM me directly.
business financing — and for good reason. Thanks to government backing, they come with some... Make sure your business meets all criteria by reading our guide to SBA loan requirements....
Thankfully, there are dozens of different routes that entrepreneurs can take to secure funding, ranging from angel investors to crowdfunding to loans. Each has its pros and cons and can shape the direction of your company for years to come. ; To assist you in gaining a clearer understanding of your funding options as a business owner, we will delve deeper into a popular financing topic: SBA Express loans . Throughout this article, we'll answer frequently asked questions from our customers with the objective of helping you determine whether SBA Express Loans align with your company's goals. ; Ready to apply? Visit our SBA Express Loan page to learn more
Our Methodology ; SBA loans can be used for most business purposes, including working capital, real estate acquisition and long-term fixed assets. ; Proof that you’ve exhausted other financing options from non-government sources ; Repayment terms: Up to 10 years for working capital loans, up to 25 years for commercial real estate loans ; Interest rates: Typically about 3% of the loan amount, but is pegged to the 10-year U.S. Treasury
Preserve capital · Improve cash flow · Create and retain jobs · Allow for expansion, business acquisition and partner buyouts or buy-ins. Access working capital, purchase of commercial real estate, purchase of equipment and more.