Four Reasons for entrepreneurs to consider SBA 7(a) Loans
Entrepreneurs keenly understand that access to capital is essential for growth. But for many business owners evaluating their funding options, it can be challenging to find the right fit — especially for small businesses and startups. For small business owners who need the kind of loan typically reserved for large, well-established businesses, the SBA 7(a) loan program can be a great source of financing.
The SBA 7(a) loan is guaranteed by the U.S. Small Business Administration, a government agency that supports America’s small businesses. Because the SBA guarantee helps banks mitigate some of the lending risk, more businesses can qualify for funding. Although the SBA offers many types of loan programs, the 7(a) loan is among the most popular because of its versatility.
By: Jerry Gamb