How much is an SBA loan down payment? Many loans administered by the U.S. Small Business Association (SBA) require a down payment – an amount of cash upfront paid by the borrower – in order to secure the loan. Get a quote The size of the down payment depends on how much money the loan […]
How to get an SBA loan Loans through the United States Small Business Administration (SBA) are very popular for small businesses looking to fund their businesses. Get a quote The loans tend to have excellent interest rates and payback terms and are meant for small businesses that have difficulty getting loans elsewhere. Because of their […]
Guide to self-employed loans with no proof of income Self-employed workers and sole traders often require business financing. Get a quote To secure this type of borrowing, they will usually be asked for proof of income. But what do you do when you can’t show evidence of the money you make? Read on to learn […]
Guide to self-employed loans with bad credit There are more than 16 million self-employed workers in the US, and many of them will require extra funding to support their business at some point in time. Get a quote Unfortunately, due to erratic income, the self-employed often have bad credit, which makes it more difficult for […]
Definition An unsecured loan is a type of loan that is not backed by collateral, such as a car or property. Instead, it is based solely on the borrower’s creditworthiness and ability to repay. What is an unsecured loan? Here are some key points about unsecured loans: 1. No collateral requirement: – Unlike secured loans, […]
Definition A non-performing loan (NPL) is a business loan that has stopped generating income for a lender because the borrower has failed to make the required interest or principal payments as per the agreed-upon terms. What is a non-performing loan? In other words, it’s a loan where the borrower has fallen behind on their payments […]
What is the average SBA loan size? Many small businesses use loans through the U.S. Small Business Administration (SBA) to finance their businesses. Get a quote SBA loans are popular because they have attractive interest rates and repayment terms, and are guaranteed by the U.S. federal government. While many SBA loans have maximum limits of […]
What happens if you can’t pay your SBA loan? SBA loans are also guaranteed by the U.S. government, meaning that lenders experience less risk when lending to small businesses. Get a quote The U.S. Small Business Administration (SBA) loan program is popular with small business owners because of its generally excellent repayment terms and rates. […]
SBA loan approval rate Loans through the U.S. Small Business Administration (SBA) are popular because they offer attractive interest rates and repayment terms. Get a quote Because they’re so popular, only about half (52%) of all SBA loan applications are approved. Learn more about the SBA loan approval rate and steps you can take to […]
SBA loan guaranty fee calculator The SBA guaranty fee is a fee charged by the Small Business Administration (SBA) to guarantee a portion of a loan made to a small business owner. The fee is typically based on the loan amount guaranteed by the SBA. The specific fee percentages may vary depending on the type […]
Can you have multiple SBA loans Many small businesses turn to the U.S. Small Business Administration (SBA) loan programs for financing when they can’t get funding through other means. Get a quote Because the loan programs offer large amounts of money with excellent interest rates and favorable terms, some small businesses may be interested in […]
SBA loan guarantees explained The U.S. Small Business Administration (SBA) guarantees their loans to make it easier for small businesses to qualify for the loans. Get a quote This guarantee makes lending to small businesses more attractive for lending partners because the federal government promises to pay back most of the loan if the borrower […]
SBA loans vs conventional loans Many small businesses turn to loans for financing, and may choose a loan through the U.S. Small Business Administration (SBA) or conventional business loans. Get a quote Each type of loan has its own advantages, depending on why a business needs the loan, how much they need and how much […]
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