GETTING AN SBA GUARANTEE FOR YOUR BUSINESS LOAN THE SMALL BUSINESS ADMINISTRATION (SBA) guarantees business loans up to approximately $1,000,000, or 75% of the total loan value, whichever is less. The average size of an SBA-guaranteed loan is typically under $500,000 and the average maturity (length) of such a loan is about 8 years. You should consider an SBA-guaranteed loan for a business because:
1. With a guarantee, any loan is easier to get; why turn away from the excellent programs that SBA offers when they can make your life easier?
2. SBA-guaranteed loans can be obtained for machinery, equipment, general working capital, a revolving line of credit, and a variety of other worthwhile business uses 3. Your local bank can make an SBA-guaranteed loan to you. This means you don't have to go much beyond your home town to get the money you need.SBA is dedicated to helping small businesses. You can get lots of free help from SBA through the mail, from the Internet, and by telephone. Key numbers and addresses are given below.
4. All SBA programs and services are provided to the public on a nondiscriminatory basis--this means that you need not worry about being turned down for your loan for a reason such as race, gender, religion, etc. For free information, check the following:
The SBA has offices located throughout the United States. For the one nearest you, look under "U.S. Government" in your Internet or paper telephone directory, or call the SBA Answer Desk at (800) 8-ASK-SBA. To send a fax to the SBA, dial (202) 205-7064. For the hearing impaired, the TDD number is (704) 344-6649.
If you’d like to access SBA electronic public information services, you can call the following:
(800) 697-4636 (limited access)
(900) 463-4636 (full access)
(202) 401-9600 (D.C. metro area)
Internet: SBA Web sites include the following:
SBA Home Page: www.sba.gov
U.S. Business Advisor: www.business.gov
GETTING AN SBA GUARANTEE FOR YOUR BUSINESS LOAN - To learn more about this author, visit Tyler Hicks's Website.
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