First Down Funding fights Covid-19 for your Small Business. Read more

SBA LOANS

November 1, 2010 9:00 pm Published by Leave your thoughts

The US Small Business Administration 504 Loan or Certified Development Company program is designed to provide financing for the purchase of fixed assets, which usually means real estate, buildings and machinery, at below market rates.

The SBA does not make direct loans to small businesses. Rather, the SBA sets the guidelines for loans, which are then made by its partners (lenders, community development organizations, and micro-lending institutions). … SBA loans can be as large as $5 million. Most SBA loans are through banks.

The SBA works with lenders to provide loans to small businesses. The agency doesn’t lend money directly to small business owners. Instead, it sets guidelines for loans made by its partnering lenders, community development organizations, and micro-lending institutions.

The most important SBA loan requirements are that you can demonstrate excellent personal credit, strong business financials, and provide “adequate collateral.” Depending on your lender, the SBA might also require a personal guarantee for every owner who owns at least 20% in the business

As you can imagine, these SBA loans do require a down payment, worth 10 to 20% of the total amount you’re borrowing. But the SBA offers several no money down small business loan programs, including the SBA Microloan. … However, you’ll need some form of collateral to qualify for this type of loan

FIRST DOWN FUNDING IS FUNDING AMERICA.  LOOKING FOR A BUSINESS LOANCONTACT FIRST DOWN FUNDING FOR FAST APPROVAL.

Tags: , ,

Categorised in: , , ,

This post was written by PTPGLOBAL

Leave a Reply

Your email address will not be published. Required fields are marked *

error: Alert: Content is protected !!