Small Business Loans
SBA loans are an ideal financing tool for companies willing to grow and sell abroad
Start or expand your business with loans guaranteed by the Small Business Administration.
An SBA loan is a government-guaranteed small business loan that has a long-term and low-interest rates. The Small Business Administration (SBA) is the government agency that partially guarantees SBA loans and was founded in 1953 to support small business owners across the United States.
What are SBA Loans?
The most common misunderstanding about these loans is that the agency lends money directly to small businesses. However, the agency does not make direct loans. The SBA provides a guarantee on the loan, promising to reimburse the bank for a certain percentage of your loan if you default on that loan. This guarantee lowers the risks to banks and other lenders, encouraging them to offer these loans to more American small businesses. Many banks and other financial institutions offer SBA loans, but their process, requirements and fees can vary.
SBA loans made easy
SmartBiz' technology enables fast and easy SBA loans with low monthly payments and great rates, while their marketplace of SBA preferred banks increases the likelihood of getting a “yes” because they match you with the lender most likely to fund your loan.
Benefits of SBA-guaranteed Loans
Because SBA loans are created with small businesses in mind, they have advantages that traditional financing solutions do not offer.
Competitive terms
SBA-guaranteed loans generally have rates and fees that are comparable to non-guaranteed loans.
Counseling and education
Some loans come with continued support to help you start and run your business.
Added flexibility for small businesses
Lower down payments, flexible overhead requirements, and no collateral needed for some loans.
Use of Funds
SBA loans can help your business grow in a multitude of ways.
- Working capital
- Debt refinancing
- Hiring new employees
- Purchasing new equipment
- Buying commercial real estate
- Expanding globally
Because of this flexibility in how a business can use funds, SBA loans are a great tool for businesses, no matter their current situation and objectives.
Loans for Exporters
Most U.S. banks view loans for exporters as risky. This can make it harder for you to get loans for things like day-to-day operations, advance orders with suppliers, and debt refinancing. That’s why the SBA created programs to make it easier for U.S. small businesses to get export loans.