Sba Loans Pros And Cons

mall Business Administration (SBA) loans are an option if you don't qualify for a regular business loan. Your business must be owner-operated, for profit, organized as a sole proprietorship, corporation or professional partnership, and fall within the size guidelines set by the SBA. Because these loans are guaranteed by the government, they can be easier to qualify for than conventional business loans. They also allow you to make lower payments over a longer period of time. Although SBA loans are provided through regular banks, the government simply acts as the guarantor. Special SBA loans are available for veterans, active duty military, reservists, National Guard members and the spouses of people in these groups.

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