The U.S. Small Business Administration helps Americans start, build, and grow businesses. The SBA was created in 1953 as an independent agency of the federal government to aid, counsel, assist, and protect the interests of small business concerns, to preserve free competitive enterprise, and to maintain and strengthen the overall economy of our nation.
The SBA has established financing options to help business at different stages grow and innovate. These options include:
The 7(a) Loan, the SBA’s Largest Financing Program
If you’re unable to get conventional financing and you meet the eligibility requirements, you can use a 7(a) loan to buy real estate, equipment, or inventory for your small business. It may also be used for working capital, to refinance business debt or purchase a small business.
Meet your revolving capital needs with a line of credit. CAPLines can be used for contract financing, seasonal lines of credit, builder’s line of credit, or for general working capital lines.
SBA Express Loan
Featuring a simplified process, these loans are delivered by experienced lenders who are authorized to make credit decisions on behalf of the SBA. These can be term loans or revolving lines of credit.
Community Advantage Program
Financing for women, veterans, low-income borrowers, and minority entrepreneurs who are just starting or have been in business for a few years. Participants in this program receive free business counseling as they work with a community-based financial institution.
Eligible businesses can get started or grow with working capital or funds for supplies, equipment, furniture, and fixtures. Borrow from $500 to $50,000 and access free business counseling from micro lenders.
504 Certified Development Company Loan Program
If you do not qualify for traditional financing, but would like to purchase/renovate real estate or buy heavy equipment for your business, ask about the 504 loan program. It provides competitive fixed-rate mortgage financing through a lender and a Certified Development Company.