SBA Loans
Explanation: The Small Business Administration is an independent agency of the federal government. Its mission is to help people start, build and grow businesses. The SBA does not actually supply the loan; lenders are responsible for that part. But the SBA guarantees between 50 to 85 percent of the loan, making the lender less wary of lending to riskier borrowers. The SBA does this by backing and securing loans that are given by banks.
Requirements/Documentation: Applicants of SBA loans will be required to provide a business profile, loan request, collateral, business financial statements and personal financial statements. Read the rest…
