How to Get an SBA Loan

source: birmingham.bizjournals.com

The U. S. Small Business Administration offers a variety of loan programs for small businesses. But there are two main points to keep in mind if your business is considering pursuing one. First, the SBA does not directly make loans; that’s the job of financial institutions. And secondly, SBA-backed loans should be seen neither as a first recourse or a last resort. “The SBA guarantees loans - it doesn’t actually lend money,” says Carol Kuc, president of the National Association of Women Business Owners. “So it’s important to develop a relationship with a banker - one that makes SBA-backed loans.”

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