Startup Business Loans

What are the Available SBA Loan Options for Small Businesses?

Entrepreneurs are in a constant search for small business loan programs and start-up business loan deals from banks and lending agencies. After all through these credit accounts, they will be able to fund the immediate needs of their respective commercial enterprises.

However, a lot of businessmen seem to be unaware of the small business loans provided by the country's Small Business Administration (SBA). They do not fully-understand the credit options that they can get from the SBA. Thus, most entrepreneurs shy away from taking financing deals and small business loans from this government agency.

So to make us all aware of the small and start-up business loan programs offered by the SBA, we have enumerated the available credit options especially to business owners and entrepreneurs. This way, they can find sufficient sums of cash to finance the start-up or expansion requirements of their small business.

Credit Options Available to Small Business Owners

  • 1.7(a) Loan Guaranty Program – This SBA primary loan program offers small business loans of up to $2,000,000 to entrepreneurs and small business owners.

  • 2.Certified Development Company (CDC), a 504 Loan Program - This credit option provides long-term and fixed rate financing to small businesses. This program is especially intended to allow an entrepreneur acquire real estate assets, machinery or equipment for business expansion purposes.

    • A 504 project often includes a small business loan secured from a private-sector lender with a senior lien, a contribution of at least 10% equity from the business owner and a loan secured from a CDC with a junior lien that covers up to 40% of the total cost.

  • 3.Microloan Programs – These programs offer start-up business loans of up to $35,000 to qualified start-up, newly-established, or growing small business concerns. Such loans are arranged through community based lenders which in turn offer credit lines to qualified borrowers.

  • 4.America's Recovery Capital Loan Program (ARC) – The SBA's ARC program can provide as much as $35,000 in short term relief for small business that encounter financial hardship because of the economic downturn. ARC loans are intended to help businesses regain their profitability. However these small business loans will only be offered as long as funding is available or until September 30, 2010, whichever comes first.

  • 5.Disaster recovery Loans – If your business is situated in a declared disaster area, then you may be eligible for financial assistance from the SBA, in the form of disaster recovery loans. This way, your business can have ample sums of money to fund its goal of regaining profitability.

    • So take advantage of these available credit programs from the SBA, and soon you can have sufficient finances for whatever needs your business may have.

    Irish Taylor is a bussiness loan consultant with Startup Business Loans and has been providing consumers and business owners with startup business financing since 1992. For years she has helped people with credit and loan problems especially pertaining to business start up, SBA loans and Unsecured loans.

    Copyright 2010.

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