Guide to Small Business Administration Loans
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Small Administration [SBA logo] Loans Guide to Business
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Thinking of getting a loan to fund or expand your small business or start-up? Before you get a traditional bank loan, take a look at the different SBA loans - they often have lower interest rates than traditional bank loans, which will help you save money. ChooseWhat created this guide to SBA loans to give you an overview of the different loans available and help you choose the one that's right for you and your business. Learn more about SBA loans here: http://cwhighlights.com/sba-loans/
Transcript of Guide to Small Business Administration Loans
What kinds of
Microloans
General Small Business Loans
Real Estate & Equipment Loans
Disaster Loans
SBA loans are there?
Max repayment term: 6 years Interest rates: 8-13%*
Nonprofit Community Lenders
Terms?
Where?
Used for most business needs, except to pay debt
or buy real estate Max loan: $50,000
What?
*This is an average. Terms vary from lender to lender
7, 10, & 25 year terms
Fixed & variable interest rates available
Most banks and SBA lending intermediaries
Terms?
Where?
Used for most business needs, including paying
operational costs and refinancing debt
Max loan: $5 million
What?
10 or 20 year terms, avg. interest rate: 4%*
Startups’ down payment: 15-20%
Certified Development Companies
Terms?
Where?
Used for purchasing & improving real estate and
equipment Min loan: $50,000
What?
*As of 5/22/2013. Subject to change.
Business owners and homeowners
The SBA - Apply online or by mail
Who?
Where?
To repair or replace eligible items (home,
equipment, etc.) destroyed in a declared disaster Max loan: $2 million
What?
Brought to you by:
If you’re in the Austin,
TX area, check out these
resources:
People Fund
BiGAUSTIN
Cen-Tex CDC
Texas CDC
Texas State SBDC
Sharing is Caring!
Brought to you by:
Sources: http://cwhighlights.com/sba-loans/
http://www.sba.gov/
http://peoplefund.org/
http://bigaustin.org/
http://www.centraltexascdc.com/
http://txcdc.com/
http://www.choosewhat.com/how
-to/create-a-business-budget
