Business Solutions

Although the main objective of our discussions was on the SBA 7a loan, there are a number of other types of loans that are guaranteed by the Small Business Administration. These include the SBA loan program 504, the micro-credit program (which has some functions that overlap with the SBA 7a loan), and the disaster loan program.

The guarantee program, while most of 7504, the SBA program, also known as the loan CDC (Certified Development Companies). This loan program is highly specialized in specific funding for long-term fixed rate offer to acquire assets such as real estate or major equipment. It is specifically designed for businesses that traditional “brick and mortar types of facilities operate. For example, this type of loans for bad credit is best suited for a small manufacturer who needs a high fixed rate loan to purchase a new piece of machinery. If this is the first requirement of your funding, you may want to consider this program as modifying SBA 7a loan. The maximum SBA loan program, $ 504 1. 5 million or two million U.S. dollars if the company does business with the federal government or a state government.

Microloan programs approved by the SBA to finance for firms with less than $ 35,000 need. These loans are mainly used for the current inventory, to manage cash flow, procurement and inventory acquisition. It is also one of the small business loan programs available for the for-profit foundation is not (although they can be used for the community).

Finally there is the disaster loan program. Unlike other aspects of the SBA, the loan can be used by individuals. This is not a program often used because it is specific to major disasters.

As mentioned previously, the SBA provides a tremendous amount of flexibility in seeking financing from industry. Despite the fact that this site is mainly dedicated to the SBA loan in July, there may be some other options that the funding would be adapted to your needs.