SBA Loan Calculator
Use our SBA Loan Calculator to Calculate Your Loan Today.
The U.S. Small Business Administration (SBA) is a federal agency supporting business development and business growth for all small businesses. This federal agency is not a small business loan lender. The U.S. Small Business Administration establishes rules and regulations for all Small Business Administration Loans and provides assistance with offering a guarantee on the loan. Guarantee: in case of default, covers a portion of the Small Business Administration Loan which reduces the risk of the source lending the funds.
SBA Loan Details
Small Business Administration Loans are loans provided through the Small Business Association. The SBA is a government agency focused on assisting small businesses in America acquire funds in order to increase growth and business. In recognition of the importance of small businesses to the American economoy (an estimated 99% of businesses in America are considered “small”) the U.S. Small Business Administration was formed to growth, improve, and ensure the future success of our nation by providing support and resources to small business owners and entrepreneurs that are keeping the American dream alive nationwide. With that being said, U.S. Small Business Administration Loans have been approved by the Small Business Administration and the SBA is providing the guarantee with a co-sponsored institutional lending source. The SBA guarantees some of the funds being lent, with a co-sponsored institutional lending source guaranteeing the remained. This joint agreement provides the complete amount of the loan providing assistance, together, to the small business owner.
SBA Loans are for established companies showing a profit, stable credit profile and can show financial stability to repay this loan. If you have been in business at least 2 years, with above average credit (630+) and can provide 2 years business & personal tax returns, you may qualify. Please note, bankruptcies must be discharged for at least 2 years and tax liens must be on a payment plan.
Why Choose SBA?
Compared to traditional bank loans, SBA loans are easier to obtain. Unfortunately, along with traditional bank loans, small business administration loans are much more paperwork intensive, take up to 60 days to fund, and have a much higher rejection rate than other alternative lenders online. This being said, small business administration loans are some of the most desired financing products for small benefits because of the plethora of benefits they provide. Term lengths and prime interest rates are nearly identical to institutionalized bank sources even if you may have been recently declined by your local bank. The U.S. Small Business Administration incentivizes the loan to the banks in your favor using their guarantee which encourages the lenders to provide you with a better term and rate. Doing this also provides the lender with security being an opportunistic business venture on their part as well. Small Business Administration Loans are on monthly payment structures, carry fixed interest rates, term lengths up to 30 years, and provide excellent assistance with improving one's overall credit profile so that you can work towards your goal of obtaining a loan from the bank.