The Right Choice for Your Business
SBA loans have many benefits that make them an attractive choice over traditional loans.
Low Interest Rates
While your creditworthiness will factor into your loan rate, SBA loans have some of the lowest interest rates out there for small businesses.
Unlike other loans that make it difficult to access capital, SBA loans make it easier to access the funds you need, up to $5 million through the 7(a) program.
Extended Repayment Terms
SBA loans offer attractive payment plans that help you better scale your business by making payments manageable. Depending on what you’re using the funds for, you can expect payment plans ranging from 7 to 25 years.
Low Down Payments
Most loans will require a down payment. SBA loans make your down payment more manageable, typically in the 10-20% range and no down payment for microloans.
Flexibility of Use
Many business loans have restrictions on what you can use the funds for. SBA loans are more flexible and allow you to use the funds for almost anything.
Access to SBA Resources
Securing an SBA loan means also getting access to the organization's vast network of resources, including mentorship and training opportunities.