Loans
Loans in US : In finance, a loan is the lending of money by one or more individuals, organizations, or other entities to other individuals, organizations.
The U.S. Small Business Administration helps small businesses get funding by setting guidelines for loans and reducing lender risk. These SBA-backed loans make it easier for small businesses to get the funding they need.
SBA only makes direct loans in the case of businesses and homeowners recovering from a declared disaster.
SBA partners with lenders to help increase small business access to loans.
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Protect yourself from predatory lenders by looking for warning signs. Some lenders impose unfair and abusive terms on borrowers through deception and coercion. Watch out for interest rates that are significantly higher than competitors’ rates, or fees that are more than five percent of the loan value. Make sure the lender discloses the annual percentage rate and full payment schedule. A lender should never ask you to lie on paperwork or leave signature boxes blank. Survey competing offers and consider speaking with a financial planner, accountant, or attorney before signing for your next loan.
Some loan programs set restrictions on how you can use the funds, so check with an SBA-approved lender when requesting a loan. Your lender can match you with the right loan for your business needs.
Like seasonal financing, export loans, revolving credit, and refinanced business debt.
Like furniture, real estate, machinery, equipment, construction, and remodeling.
Lenders and loan programs have unique eligibility requirements. In general, eligibility is based on what a business does to receive its income, the character of its ownership, and where the business operates. Normally, businesses must meet SBA size standards, be able to repay, and have a sound business purpose. Even those with bad credit may qualify for startup funding. The lender will provide you with a full list of eligibility requirements for your loan.
The business is officially registered and operates legally.
The business is physically located and operates in the United States or its territories.
The business owner has invested their own time or money into the business.
The business cannot get funds from any other financial lender.
Most U.S. banks view loans for exporters as risky. This can make it harder for you to get loans for things like day-to-day operations, advance orders with suppliers, and debt refinancing. That’s why SBA created programs to make it easier for U.S. small businesses to get export loans.
To learn how SBA can help you get an export loan, contact your local SBA International Trade Finance Specialist or SBA’s Office of International Trade.
Get matched to an SBA-approved lender and find the best loans to start and grow your small business.
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