SBA Loan Guarantee Programs
The U.S. Small Business Administration (SBA) operates loan guarantee programs that enable small businesses to obtain loans that otherwise would not be possible.
The loans fall into the following categories:
- General Small Business Loans [previously known as 7(a) loans]. This the most common type of SBA guaranteed loan.
- Real Estate & Equipment Loans (previously known as 504 loans). This program provides financing for major fixed assets, which is typically real estate and equipment.
- Micro Loans. This program provides small, short-term loans.
- Disaster Loans. Provides low-interest disaster loans to businesses of all sizes, private non-profit organizations, homeowners, and renters to aid in recovery of major disasters such as hurricanes or floods.
Go to https://www.sba.gov/loans-grants/see-what-sba-offers/sba-loan-programs for general information on these types of financing and for contact information.
Additional resources to consider
LINC provides an online mechanism to connect prospective borrowers with SBA approved lenders.
When accessing LINC, you will need to answer a few questions about your business. We’ve included those here for your reference. They are also provided at the website under StepONE. Contact us if you need assistance. We work with small businesses to look at pitch decks, business model canvases, and business plans, all of which will help you prepare to pursue loans under SBA programs.