However, you ought to consider all of your sources for emergency funding before applying to the SBA, as disaster loans may only apply to businesses without any other options. SBA disaster loan application process If you have sustained economic damage and need access to capital, the SBA describes...
“The concept may be great, but what the lender is looking for is that the individual is driven, capable and determined,” he said. “You really need to understand what you are doing every step of the way and be able to convey that to the lender during the application process.” Hall...
An SBA loan can make a difference for your business It takes money to run and grow a business. Traditional lenders are not always willing to risk lending to small businesses without a guarantee they will recoup at least most of their capital. That’s where government-backed SBA loans can ma...
SBA is offering a Hardship Accommodation Plan for borrowers experiencing short-term financial challenges. Borrowers eligible for this plan may make reduced payments for six months. Interest will continue to accrue, which may increase (or create) a balloon payment due at the end of the loan term....
The SBA does not directly lend money to small businesses in the form of a 7(a) loan. You must first find an SBA-approved lender. The lender will ask you to complete an application for a 7(a) loan, and you will work with the lender on the paperwork required by the SBA. ...